The latest U.S jobs figures released Friday night came in well below estimates and according to some, may have been poor enough to kill off a rate hike in 2016. However there is another camp who still believe the U.S Federal Reserve will resume their rate tightening cycle with a rate hike in December. In any case it’s a line ball type of scenario and with AUD/USD holding just under 0.7600 you’d have to suggest the market isn’t really pricing in a rate hike from the Fed. Only time will tell and unfortunately I don’t have a crystal ball!
We have a pretty quiet week ahead in terms of economic data with only Chinese trade balance figures due Thursday while U.S retail sales and PPI are due Friday night. Again this week the focus will be on the U.S data and in particular these retail sales figures – the Fed will be looking for a strong uptick in retail sales which has really faltered over the past 2 months.
DATA RELEASES TODAY:
No data, Bank holidays in the U.S, Japan and Canada (please bear this in mind with your payments)
AUD EXCHANGE RATES:
AUD/USD – 0.7581
AUD/GBP – 0.6091
AUD/EUR – 0.6762
AUD/NZD – 1.0581
AUD/JPY – 78.11
***Above rates are indicative wholesale rates and intended as a guide only***
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