U.S economic data comes in thick and fast tonight, with the latest retail sales, producer prices (PPI) and consumer sentiment figures capping off what has been a very quiet week. The trifecta of announcements will be watched closely by the U.S Federal Reserve and market participants alike given all the chatter surrounding further Fed interest rate hikes perhaps as early as next month. The Fed will be hoping to see a snap to a two month string of negative or flat retail sales and producer prices, while they’ll also be hoping to see continued growth in consumer sentiment. Should we see all three improve you’d have to expect AUD/USD to again test 0.7500 or lower – a level at which it has been unable to break below since a brief soire in the 0.74’s during the middle part of last month.
Other than that, it looks like Aussie equity markets are set to snap a two day losing streak with ASX 200 Futures pointing towards a 0.2% gain on the open.
DATA RELEASES TODAY:
USD – Retail Sales and Producer Prices (PPI) at 11.30pm
USD – Prelim UoM Consumer Sentiment at 1.00am
AUD EXCHANGE RATES:
AUD/USD – 0.7542
AUD/GBP – 0.6157
AUD/EUR – 0.6823
AUD/NZD – 1.0641
AUD/JPY – 78.27
***Above rates are indicative wholesale rates and intended as a guide only***
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