1Finance

The Australian dollar stabilized on high ground, consolidating previous gains. What’s next? Australian capital expenditure and Chinese data stand out in a busier week.

1. Building Approvals: Wednesday, 1:30. A rise of 10.9% in June will probably be followed by a drop now.
2. Construction Work Done: Wednesday, 1:30. We will now receive the data for Q2.
3. HIA New Home Sales: Thursday, 1:00. A rise could be seen now.
4. Chinese official Manufacturing PMI: Thursday, 1:00. A score of 51.4 points was seen in July, within the recent ranges.
5. Private Capital Expenditure: Thursday, 1:30. A rise of 0.3% was seen in Q1 2017, within early expectations.
6. Private Sector Credit: Thursday, 1:30. Growth accelerated to 0.6% in June, after slower months beforehand.
7. AIG Manufacturing Index: Thursday, 23:30. The manufacturing sector continues growing nicely according to the Australian Industry Group, with a score of 56 in July, the highest since April.
8. Chinese Caixin Manufacturing PMI: Friday, 1:45. The Caixin PMI is already an independent measure of the manufacturing sector of Australia’s No. 1 trading partner and tends to have a significant impact on the Aussie. In July, the figure beat expectations and reached 51.1 points. However, this still reflects slower growth than in past years.
9. Commodity Prices: Friday, 6:30. A growth rate of 17.1% was seen in July, below 23.7% that was seen beforehand.

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