AUD would be active on this week full of data releasing season. Following are the significant economic data announcement in this week.
- Q1 Capital Expenditure: Since the Q1 capex report on Thursday will be the focal point for markets.
- Trade deficit likely to widen in Q1: Australia’s trade deficit is expected to be widened in the March quarter to a deficit of $3.7 bn, $1.0 bn deterioration on the prior quarter.
- Import bills increased by 3.0%, while annual import volume growth turned positive in Q1, lifting to 1.4%.
- Marginal growth in net export: Australia’s net exports have been negligible numbers, exceeding marginally 0.1ppts to growth in Q1, a 1.9% rise in exports earnings.
Shipments of Australia’s key commodities are iron ore, coal and LNG, annual export volume growth is an estimated 6%.Forecast for Q1 GDP to remain at around 0.6%.Key events for tomorrow:
- Westpac Leading Economic Index MoM (GMT 0:30)
- Construction assignments completion QoQ (GMT01:30)
The material has been provided by InstaForex Company – www.instaforex.com