AUD review

Western Union:

The Aussie dollar remained a dominant performer for a second straight day, boosted by fading expectations for further interest rate cuts Down Under. 

Aussie first quarter growth proved stronger than expected, nearly doubling up Q4's rate of 0.5 percent with a surge of 0.9 percent. That was the fastest growth in a year and above forecasts of 0.7 percent. The Aussie this week has bounced above mid-April lows after the nation's central bank was mum on whether interest rates had further room to fall this year. 

Thursday brings Aussie data on retail sales and monthly trade, numbers that will also speak to the interest rate outlook.