Aussie Runs The Gauntlet
Once a quarter, the Australian dollar faces a week of concentrated event risk. It must run the gauntlet between monthly and quarterly domestic economic reports, an RBA policy decision, China PMIs, and a US payrolls report. This time around US payrolls is especially significant given its direct bearing on the timing of FOMC tapering. There is the added complication of an Australian Federal Election on Sep 7 too, although we do not expect any material currency reaction to the outcome.
Read the full report: UBS