Since the Australian and New Zealand currencies correlate so strongly, Red-Tag news for both can bring AUD volatility to the market.
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The AUD/USD looks to be breaking through some resistance. This week is key to a future direction of the pair. Find the chart below.
Tonight at 9:30pm EST the Monetary Policy Meeting Minutes will be released.
This can have some economic insight critical to the direction of the economy. Thursday, Governor Stevens is speaking.
With the AUD/USD being at such a critical technical level, you’ll want to pay attention to as much news as possible. By the end of the week, we could see some clear signals for which direction to trade. 🙂
New Zealands retail sales jumped higher than expected last week releasing a 1.3% second quarter gain.
Tonight the quarterly Inflation Expectations report will be released.
Predictions of what future expectations are can result in real inflation changes, because companies can base prices off their expectations.[/column]
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