OK, so ‘Monday didn’t happen’ in AUD/USD – we’ve seen a huge retracement move.
The RBA decision to leave rates unchanged yesterday was as expected, but the statement was interesting. I couldn’t believe how short it was – is that some sort of record?
OK, so coming up today for Australia:
2330GMT we’ve got the Australian Industry Group Performance of Services Index (Aussie Services PMI for short). The manufacturing PMI came in with a big jump (but still deep in contraction territory) last week.
Prior was 44.1
At 0130 there’s Australian Q1 GDP.
For the q/q:
- expected is +0.7%
- prior was +0.6%
For the y/y
- expected is +2.7%
- prior is +3.1%
Also of relevance for the Australian dollar today is the HSBC Services PMI out of China for May (more on this coming)
- Prior was 51.1