AUD: Particularly vulnerable below 0.7690/00 this week - NAB

Analysts at National Australia Bank (NAB) offer their outlook on the Australian dollar this week, as published in its morning note.

Key Quotes:

“AUD is particularly vulnerable to any break of the 0.7690/00 area this week

China data and their return to global commodity markets after a week holiday, and local business and consumer confidence reading this week area all important, at a time when speculative position on the AUD remains close to 2013 highs

AUD made its lowest level since a July 14 offshore on Friday (0.7733) before a small pull back.

RBA Board member Ian Harper is his WSJ interview on Friday, was s lamenting slow wage growth/household income which he said "if it lost momentum, might be the basis for some sort of policy action".

He also noted that the level of the Australian dollar also remains an inhibitor to growth even after recent falls "You wouldn't want to be jumping the gun and tightening too quickly" Harper said.”