The US Retail Sales Update
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
AUD/CNY: the Australian dollar should ascend versus the Chinese Yuan
Some financial analysts suggest that the Australian dollar might ascend versus the Chinese Yuan within the coming weeks.
The currency pair AUD/USD hasn’t left a 3% range since mid-January. The pair should remain quite intact between approximately 0.74- 0.77. Obviously, it has been edged down as iron ore prices decreased, and waves of risk aversion hit, following tensions in the Korean peninsula. However, the pair is expected to be underpinned by trade surpluses as well as a steady RBA outlook, to say nothing of domestic data.
Over the next several weeks, experts see the greenback soaring more against the major Chinese currency than the AUD. Upbeat surge and trade and surges in equity market have seen Asian currencies going up, even versus a backdrop of higher American yields. It feels like the Chinese currency has underperformed. Meanwhile, the AUD has remained quite resilient. Therefore, analysts see AUD/CNY heading north towards the 5.25/30 area within the coming weeks.
Similar
The US NFP Update: What to Wait for?
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
Bank of England Statement: What to Expect
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
Latest news
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
What’s New with Australian Unemployment Rate?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
Can the UK CPI surprise?
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
