In view of Sean Callow, Research Analyst at Westpac, Australia’s domestic economy remains broadly supportive, with this week’s RBA minutes and speech by Governor Lowe reinforcing their optimistic outlook for 2019, albeit with one eye on the ongoing fall in house prices.
“In the week ahead, we will see Q3 data on the construction sector and business investment, which will help form forecasts for Australia’s Q3 GDP report due on December 5th.”
“The obvious wildcard in the week ahead is the US-China trade war. There are likely to be many competing media stories trying to predict what Chinese president Xi and US president Trump will agree to – or not – at the G20 meeting which begins in Argentina on 30 November. AUD would be one of the key beneficiaries of any major improvement in US-China relations.”
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