It’s a busy week ahead for the Australian economy, with a flurry of pivotal data out in the coming week. On Tuesday we see the release of their cash rate and the central bank rate statement, with the country’s cash rate expected to stay at 2%. The retail sales and trade balance results will be published on Wednesday, with the trade balance expected to be slightly better than last month’s. Australia will be desperate for positive results this week as the effect of the ‘El Nino’ drought are already being felt and could cause the slowest growth for its economy in 24 years.
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