The Australian dollar has fallen rather significantly during the course of the week but has also spent most of the week recovering after that initial shock. The question now is whether or not it can recover fully?
The Australian dollar initially pulled back a bit during the course of the trading session on Friday but then turned around to show signs of strength. That being the case, it looks as if we are getting ready to bounce.
It’s a busy day ahead on the economic calendar. Prelim private sector PMIs for July are due out. For the Loonie and the Pound, retail sales figures will also influence.