The down move in the AUD/USD, which started on April 21st, doesn’t look as though it has run its course. Tuesday’s Building Approvals and Current Account data will be closely watched for a turn in the recent string of weaker data. Both sets of data are forecasted lower and it’s likely that last week’s low of .7140 will be challenged on “as expected” readings.
Wall Street closed mixed after two days of strong gains as advancing defensive sectors offset declines in materials, banks and other cyclical industries. On Thursday the Dow Jones Industrial Average fell 23.22 points, or 0.13 per cent, to 17,828
Wall Street rose robustly for a second straight session, helped by higher oil prices and investors becoming more comfortable with the prospect of an interest rate hike as early as next month. On Wednesday the Dow Jones Industrial Average added 0.82 per cent to end at 17,851