U.S. one-hundred dollar bills are seen in this photo illustration at a bank in Seoul August 2, 2013. Picture taken August 2, 2013.
U.S. one-hundred dollar bills are seen in this photo illustration at a bank in Seoul August 2, 2013. Picture taken August 2, 2013. Reuters

Bell FX Currency Outlook: The Australian Dollar opens this morning little changed from Friday's levels as trading was very quiet due to the US Independence Day holiday.
Australia: There was no real news to affect the direction of the AUD on Friday as the US financial markets were closed. We have opened this
morning in the mid .9300's and expect today to be a very quiet day of trading.

Today we will see the job ad figures from ANZ from last month. The previous month job ads had fallen by 5.6%. Also the AiG performance of construction index will released today. Last month the index came in at 46.7.

On Tuesday, 8 July, we will see the latest read on how businesses and consumers are feeling about the Australian economy when the NAB publishes its business confidence and conditions figures and the ANZ Roy Morgan consumer confidence index is announced.

On Thursday, 9 July, Australia's employment data will be known with most economists predicting a slightly higher number of jobs were created but with the unemployment rate likely staying steady at the 5.8% level.

Although RBA Governor Stevens would like to see the AUD at lower levels we suspect that the AUD may drift slightly higher but still remain under the .9400 level over the next day or so.

Majors: The USD generally held its level against the major currencies after the better jobs number last week. On Friday German factory orders
were a bit lower than expected. IMF Managing Director Christine LaGarde said global growth forecasts might need to be cut since the global
economy is growing slower than previously predicted.

This week is fairly light on new data releases overseas as well. On Wednesday from China we will see the latest PPI and CPI figures followed the next day by their trade balance numbers. In the US on Thursday we will see the latest Federal Reserve minutes from their board meeting last week.
Economic Calendar
07 JUL AU AiG Perf of Construction Index
JN Leading Index
CA Building Permits MoM
AU ANZ Job Advertisments MoM