5/2/2021 11:41:04 PM GMT
AUD - Australian Dollar
A buoyant US Dollar saw the Australian Dollar trade lower on Friday as stronger than expected US economic data boosted USD sentiment, and stoked inflationary fears. Hawkish commentary from the Fed also aided the US Dollar which saw the index rise 0.7% on the day. The Australian Dollar and the Kiwi Dollar both suffered; AUD/USD fell from 0.7780 to 0.7696 whilst the NZD/USD fell from 0.7240 to 0.7151. Given the NZD was the session’s worst performer, the AUD/NZD cross rate managed to climb from 1.0730 to 1.0775.
We’re set for a busy Monday today for the Australian Dollar. We have the April release of the CoreLogic home value index which is expected to show another strong monthly read with the national index expected to rise 1.8%. The MI inflation gauge, which is also released today, should provide investors with some insight into the trajectory of domestic inflation after the soft Q1 CPI print. We will also get ANZ job ads for Apri