Australian Dollar Unmoved By Strong Fundamentals, But Data Will Have A Second Chance

[DailyFx]

The com bloc was bound to range trading Wednesday despite high volatility in key commodities. This morning, crude prices tested a new weekly low before closing the US session nearly three dollar higher than where it opened at $131.03/barrel.


For the Aussie dollar, volatility would be further boosted by a couple of top economic releases - though this price action would not come with direction. The Westpac Leading Index for March rose for the first time in three months to boost expectations of strong growth trends, while the first quarter construction activity report met its forecasted 2.3 percent rise. Looking ahead, Canadian the current account balance offers top event risk.