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Posts Tagged ‘Australia’

Australia GDP Falls Most Since ’91, Currency Rises on Investment
Australia’s economy shrank in the first quarter by the most in 20 years as floods hurt exports, even as stronger business investment underscored the central bank’s forecast for a rebound in the second half of the year.

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Australia is expected to add 24.0K jobs in March following 10.1K contraction in the previous month, and the rebound in employment could spur a bullish reaction in the aussie as investors speculate the central bank to tighten monetary policy further this year.

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Price growth in Australia is expected to expand at a faster pace in the fourth-quarter, and the rebound in inflation could spark a sharp rally in the exchange rate as investors speculate the Reserve Bank of Australia to tighten monetary policy further this year.

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Economic activity in Australia is expected to expand at a slower pace in the third quarter, and the data could lead the central bank to adopt a wait-and-see approach in December as it aims to encourage a sustainable recovery.

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As the Australian labor market is expected to improve for the seventh month in September, the data could spark a bullish reaction in the aussie and push the exchange rate closer towards parity as the outlook for future growth improves.

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As retail sales in Australia is expected to expand for the third consecutive month in May, the rise in private consumption could stoke speculation for a rate hike next month as the rebound in economic activity gathers pace.

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