There was some positive news for some world currencies yesterday, with the Australian dollar strengthening yesterday morning leading into the Monday on data regarding new home sales, compared to the month before. This was followed by the Canadian dollar, which strengthened on positive growth figures, released before lunchtime in the UK.
Today there are a number of nations which publish Purchasing Managers’ Index (PMI) data. Of note are the Chinese and Japanese data sets. In addition, overnight the Australian Reserve Bank voted to keep their interest rates on hold. We will also get to listen to a speech from the Reserve Bank of Australia (RBA) following the publication, which should shed more light on the central bank’s decision. Statements given in conjunction to interest rates decisions are always scrutinised by traders and have the potential of causing significant market movement.
Looking to buy or sell currencies? Get in touch with your trader now for the latest rates, news and currency-buying solutions.