Commodity prices remain key to the economic performance of the Australian economy. A measure of Australian Commodity Prices comes out in the coming week, along with final PMI data. Expectations are not high, so recessionary conditions are expected to remain, with the FOMC meeting this coming week, being the greatest influencer. The AUD has traded around 0.6600 for the last week, but the Fed and their decision is likely to have greater impact on the AUD trading direction.
Current Level: 0.6589
Last week’s range: 0.6554 – 0.6619