|New Motor Vehicle Sales m/m||0.0%||-2.2%|
|MI Leading Index||0.3%||0.3%|
|CB Leading Index||0.2%||-0.1%|
The Australian economic calendar was poor this week, but the countries dollar had a positive performance. It touched a seven week high on speculation that the interest rate will not be cut by the central bank at the next monetary meeting. The rally started on Thursday, after the London opening, and was based on the unexpected rise in the HSBC Flash Manufacturing PMI in China.
Next week we are expecting a speech from RBA governor Stevens, Central Bank’s Financial Stability Review and the Private Sector Credit.
AUDUSD has continued the up move started three weeks ago. It is heading for the 1.0600 resistance level, but for this it will have to close over the current high (1.0460).