Will Australia cut their interest rates?
Elsewhere, the Canadian dollar’s slow week continued into Friday and it will remain in focus this week with a raft of data released including trade balance figures, unemployment statistics and PMI data. The South African rand fell through the psychological level of 10 to the dollar in early trade on Friday amid upbeat expectations for US jobs data. The worse-than-forecast results from the US sparked a response from the rand, and we saw a strong end to the week from the South African currency. The Australian dollar held three-year lows throughout Friday, as markets remained tentative ahead of Tuesday’s interest rate decision and the increasing likelihood of a cut. Also out of Australia this week we have trade balance data, unemployment figures on Thursday and there is another statement from the RBA on monetary policy early Friday morning. It is an important week for Japan with current account figures, the monetary policy statement and the Bank of Japan press conference that follows. A big week for data, so get in touch for the latest rates.