AUD/USD reversed directions last week, gaining 80 points. The pair closed at 0.7117. This week’s key events is the RBA Monetary P0licy Meeting Minutes. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
The Australian dollar received a strong boost from surprisingly strong Australian employment numbers. The US posted mixed numbers last week. PPI and Retail Sales missed estimates, but UoM Consumer Sentiment beat the forecast. Earlier in the week, US jobless claims repeated at 276 thousand, coming in above the forecast for a second straight week. The Fed is leaning towards a hike, but is not yet fully committed to the move.
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