AUD/USD continues to struggle, as the pair posted losses for a fifth straight week. AUD/USD lost about 90 points and closed the week at 0.7277. This week’s highlights are Building Approvals and PPI. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
US numbers showed improvement this week, as New Home Sales jumped and unemployment claims dropped sharply. In Australia, some strong numbers were not enough to prevent the Aussie slide from continuing. CPI jumped 0.7% in Q1, its highest gain since Q4 of 2013. As well, NAB Quarterly Business Confidence was up sharply.
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