The Australian dollar, paired with the US dollar, maintains positive momentum. The current AUDUSD exchange rate stands at 0.6572.
The strength of the Aussie is primarily based on the weakness of the USD, which remains sluggish on the broader market, as investors anticipate the release of US Core PCE statistics this week. This might give some clues about the future actions of the Federal Reserve.
This week, Australia will release retail sales statistics for October. The figure is expected to have risen by just 0.2% m/m compared to the 0.9% surge in September. Next are the reports on building permits for October, private new capital investments for Q3, and the manufacturing PMI.
The news flow from China appears neutral, allowing the Aussie to keep its upward momentum, among other things.