The Australian dollar is sitting comfortably above the 76 cent level in early Asian trade on Monday morning after falling modestly on Friday.
Here’s the scoreboard as at 7.50 am AEDT.
- AUD/USD 0.7630 , 0.0002 , 0.03%
- AUD/JPY 84.97 , 0.13 , 0.15%
- AUD/CNH 5.2414 , 0.0071 , 0.14%
- AUD/EUR 0.7153 , 0.001 , 0.14%
- AUD/GBP 0.6078 , 0.0002 , 0.03%
- AUD/NZD 1.0880 , 0.0019 , 0.17%
And here’s the hourly chart that shows the Aussie’s slow drift lower in late March.
Being the start of the month, there’s plenty for traders to digest during today’s Asian session with major data releases scheduled both at home and abroad.
In Australia, markets will receive retail sales and building approvals figures for February along with manufacturing PMI, ANZ job ads, MI inflation gauge, RBA commodity price index and house price data from CoreLogic for March.
A busy calendar, although most interest is likely to fall on the retail sales release at 11.30am AEST, particularly given recent weakness in consumer confidence readings.
An increase of 0.3% is expected following a 0.4% gain in January.
The data deluge will kick off from 9.30am AEST with the release of the Ai Group’s manufacturing PMI report for March.
Outside of Australia, the health of the Japanese manufacturing sector will also be in focus with the release of manufacturing PMI at 10.30am AEDT along with the quarterly Tankan survey from the Bank of Japan one hour earlier.
PMI readings for South Korea and several other Asian nations will also be released throughout the session.
Chinese markets will be closed for the Tomb Sweeping Festival.
Later in the session, the PMI deluge continues with manufacturing gauges from Germany, France, the eurozone and UK all scheduled for release.
Markets will also receive producer price inflation and unemployment figures from the eurozone.
In North America, manufacturing PMI reports from the US and Canada for March will also be released.
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