Australian Dollar Forecast: Bearish
- The Australian Dollar remains at the mercy of US Dollar convolutions
- The Fed is trying to tell markets something, but it seems that the music is too loud
- A piquant economy presents a conundrum for the RBA this week, will they hike?
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Trading Forex News: The Strategy
The Australian Dollar is bubbling higher after a tumultuous week that saw data and commentary collide.
On the domestic front, retail sales for the month of October slid by -0.2% month-on-month instead of rising by 0.5% as expected.
Private sector credit for October showed growth of 0.6% month-on-month as expected. This contributed to an annual read of 9.5% year-on-year which was also in line with forecasts.
Building approvals for October showed a decline of -6.0% month-on-month, well below -2.0% anticipated and on the back of the previous figure of -5.8%.
For the first time, the…
