Private Sector Credit figures for the month of March have been announced in Australia. On a monthly basis the announced figure of 0.6% exceeded both the 0.4% market speculation as well as the 0.5% reading for February. On annual basis the rates were 3.6% for the current month, 3.3% was the market speculation, while 3.4% was the year end figure for February. Following the news announcement the AUSUSD pair did not demonstrate any significant gains or volatility. With the Aussie being at record highs over the US Dollar is possible that this information was discounted by the public and hence no significant response or it could be due to an illiquid Asian trading session occurring as a result from Japan’s current Bank Holiday.
The Private Sector Credit figures that are announced by the Australian Reserve Bank shows the amount of money the Australian private sector is borrowing. Generally, a high value is regarded as hawkish for the currency as it demonstrates the private sector can afford to big expenses that could generate future economic growth.