New Leftist Government Ascends To Power In Australia

On Monday, markets are getting prepared to deal with a new government in Australia, whose new leaders will be sworn in following the Labour Party’s electoral victory Saturday.

In what is a seismic shift in its politics, the Australian dollar traders will be weighing the implications for markets following almost a decade of criticism mainly directed against the two-party system. Voters have turned their back on the ruling coalition, instead are now backing those who campaigned for more action on climate change, greater gender equality and political integrity.

However, the main focus for the Australian dollar is on the central bank. For the week ahead, Chris Kent, Assistant Governor will speak at the Kanganews DCM Summit on 23 May, while Luci Ellis, Assistant Governor will speak at the UDIA National Conference on 25 May.