It was a rough week for the Australian dollar, which lost over 100 points. AUD/USD closed the week at 0.7618. The upcoming week has seven events. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
There were no surprises from last week’s Australian data. In the US, the week started with strong numbers, led by an excellent consumer confidence report and strong unemployment claims. However, the week ended with a very disappointing jobs report, raising speculation that the Fed may have to delay a rate hike.
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