The Australian dollar slides further; it had sat very quietly bid in the Australian sunrise, but a big overlook for March retail sales data earlier today released down with retails sales ex-inflation for 1st Quarter, which also showed a decline from the earlier quarter saw a support down, underneath the overnight lows & extending the AUDUSD lower drift. The move inferior moved a little additional soon after & it is hardly off its session low.
AUD Annual Budget Day - Forecast
>> Australia Federal Budget release for 2017-18.
>> On Tuesday, 9th May 2017 @03.00 pm Indian standard time.
>> The caption is the predictable budget shortfall; middle is at AUD 28 Bn.
>> The conduit to return to surplus must be for 2020-21.
>> This should be sufficient to pacify the ratings agencies, assets on to the AAA rating from the 3 majors leaving forward, observe the estimates used for commodity values for the budget these crash on anticipated tax revenues, if the estimation of values are way out of line by means of what appears sensible then the reliability of budget calculations are questioned.
>> The Australian government will also give estimates for GDP growth.
On Caption-Image policy
>> Look at for procedures on housing affordability pack up & splitting government debt into good & bad debt. Good for savings into infrastructure & productivity enhancing proposal & if bad for day-to-day expenditure. Overly unsophisticated, but it's a political procedure.
>> There will be a swing of infrastructure-correlated announcements for airports & railways, palaces.
>> Look at as well for an announcement on the business tax rates- there is predictable to be a little sort of tax cut for industry.