Flash: AUD fall no surprise - UOB Group

Lee Sue Ann, Market Strategist at UOB Group notes that with China being Australia’s largest trading partner, it was not surprising to see AUD/USD" tumbling in reaction to the dismal Chinese trade data over the weekend, which showed a monthly deficit of $22.99bn, marking the first negative reading in 11 months and the largest since February 2012.

Key Quotes

“The week ahead promises to be a busy one for the AUD, both on the domestic and external front. Locally, business conditions and confidence reports will be released on Tuesday whilst the Westpac consumer sentiment report is due on Wednesday. The spotlight though will be Thursday’s February labour force figures.”

“Externally, markets will pay close attention to Thursday’s Chinese industrial production, retail sales and FAI reports whilst sometime this week, we will also see the release of China’s new RMB loans, total social financing data, and money supply.”