It’s going to be a big data week for Australian dollar traders

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The Australian dollar has opened the new week and quarter just shy of the US 77 cent level, consolidating upon the gains achieved in recent weeks.

Here’s the scoreboard as at 7.40am AEST.

AUD/USD 0.7679 , -0.0007 , -0.09%
AUD/JPY 86.17 , 0.10 , 0.12%
AUD/CNH 5.2061 , 0.0023 , 0.04%
AUD/EUR 0.6722 , 0 , 0.00%
AUD/GBP 0.5897 , -0.0001 , -0.02%
AUD/NZD 1.0475 , -0.0001 , -0.01%

Being the start of the month, there’s a plethora of major data releases scheduled both domestically and abroad that carry the potential to move the Aussie today, especially with trading volumes likely to be thin ahead of the Independence Day holiday in the US tomorrow.

Domestically, manufacturing PMI, ANZ job ads and building approvals data will be released while regionally the Caixin-IHS Markit manufacturing PMI from China and quarterly Tankan survey in Japan are the session highlights.

Later in the session, markets will also receive manufacturing PMI surveys from India, Europe, the UK and US along with unemployment data from the eurozone and Italy and construction spending from the US.

While US markets will be open, trade in many markets will be limited to a half session ahead of the Independence Day holiday, likely ensuring lower-than-usual trading activity.

Here’s the daily AUD/USD chart over the first half of the year. The Aussie gained 0.76% over the June quarter, having bounced 4.91% from the lows of May 9.

AUD/USD Daily Chart