Tuesday, March 17th at 12:30 GMT
Aussie Monetary Policy Minutes
The Aussie economy has a large exposure to China, and the Reserve Bank of Australia is determined to do whatever it takes to provide its support in order to soften the blow of Coronavirus. Investors are hopeful that the recent measures of the RBA will support the country's growth. The leverage bets for the Aussie dollar pair shows that buying pressure is building up. If the monetary policy minutes display a more dovish tone, we could see the leverage buy bets on the Aussie to soften up.How will the economic data drive the Aussie?
Wednesday, March 18th at 14:30 GMT
Crude Oil Inventories Data
Oil prices slumped even lower than the 2016 level. In fact, on March 9th, we have seen the biggest one day sell off since 1991. Traders are hoping that an oil war doesn't break out between OPEC, Russia and the US. On March 10th, the Saudis have already notched up the game by saying that they are going to pump more oil in April. This creates a real threat of oil supply glut, and if the crude inventories data did show that there is excess supply on the markets, it is highly likely that the message will be taken negatively by the market participants.Will the Crude inventory data show excessive supply?