AUD/USD: Disappointing data threatens to weigh even more heavily on the Aussie – Commerzbank

The Australian Dollar was one of the biggest losers this week. Economists at Commerzbank discuss AUD/USD outlook for the next week.

Aussie under pressure

“Next week's data will likely determine whether AUD/USD will remain below the 0.66 level for the time being, or whether it will be able to return to its range. This is because in addition to the monthly inflation data, the housing market and private sector credit growth data are likely to influence the RBA's overall picture.”

“The Chinese PMIs will also play an important role. After all, China's economic momentum has a significant impact on the outlook for the Australian economy via expected commodity demand and may have contributed to the recent AUD weakness.”