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Local Data Calendar Back Into Focus

AUD

AUD continues to track broader equity market sentiment closely. We have consolidated between 0.7070-0.7085 this afternoon, after printing an earlier 0.7066 low. There are some local data releases over the next few days though, which could bring some of the focus back domestically.

  • Q1 construction work done prints tomorrow. This is a building bloc for Q1 GDP. The market expects construction work to rise 1.0%, following last quarter's -0.40% fall.
  • Tomorrow RBA Assistant Governor Ellis speaks at 9:45am AEST. The title of the speech is "Housing in the Endemic Phase ".
  • On Thursday Q1 CAPEX is out, which is another building bloc for Q1 GDP. The market looks for a 1.5% rise, versus 1.1% last quarter. There will also be interest in CAPEX intentions for the 2022/23 financial year.
  • On Friday, April retail sales prints. The market looks for a 1.0% gain, following last month's 1.6% rise.

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