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Big day for Australian dollar
Published on 14.03.2016 23:13

The Australian dollar is set to face a bumper trading session tomorrow with a solid round of local and overseas data that is likely to set the stage for the rest of the week.

The Australian dollar at 7.58pm (GMT) currently sits at US75.08c after threating to break through the US76c mark earlier in the day.

To kick off tomorrow will see the new car sales figure directly followed by the latest Minutes meeting from the Reserve Bank of Australia.

There is talk going around that the RBA may once again jawbone the Aussie dollar in order to halt last week’s stellar rise.

The bank of Japan interest rate decision followed by the accompanying monetary announcement is also likely to cause some volatility in the Aussie due to the close connection between the two countries.

Towards the end of the trading session data from America will play an important part in the Australian dollar’s direction with the release of the latest home sales figure from the US will be closely watched by the FED in their effort to continue raising interest rates.

All in in all it will be an action packed day for the Aussie dollar which may bring to an end the unexpected rally of the last 2 weeks.


Andrew Masters

Analyst

The power of leverage is the power of Forex.
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