By FX Empire.com
All eyes focus on the Germany’s comments that indicated the European leaders will not be able to fully support the repair of the euro zone’s debt crises as expected at the next summit, which will be held on October 23.
Aussie improved against the greenback after the RBA’a minutes showed that Australia is highly depends on exporting iron and natural gas for surrounding countries including China, India and Iran, where the value of liquefied natural gas projects reached almost $70 billion in 2011.
Meanwhile, the RBA’s minutes noted that economic growth in Australia is not going to be strong as expected earlier which is a reflection to global and local factors, thereby that will cause lower inflation than expected, where the RBA intends to keep inflation between 2 to 3% and the CPI report which is due on October 26.
On Wednesday, Australia’s Westpac leading index for August will be released at 23:30 GMT (Tuesday) after the reported 0.50% rise in July.
The U.S. economy will issue the Consumer Price Index for September at 12:30 GMT, where it’s expected to come at 0.3% from the previous reading of 0.4%, as for the annual Consumer Price Index it’s expected to hold at 3.8%.
The U.S. Housing Starts for September will be released as well at 12:30 GMT with and expected to rise to 595 thousand by 3.9% from the previous 571 thousand. The Building Permits on the other hand are expected with a drop by 2.4% to 610 from 620 thousand.
Read more daily and weekly FX Fundamental Analysis here.
