The AUDUSD fell below 1.0450 when Chinese GDP data and Industrial Production figures failed to be economist’s expectations.
The first-quarter forecast from economists was for the GDP to grow 8 percent, the actual figure showed only 7.7 percent.
Chinese growth figures have been trending downwards for the past couple years.
AUD Meeting Minutes
Monday evening at 9:30pm EST (New York Time). The Australian meeting minutes will be released from the April 2nd RBA (Reserve Bank of Australia) meeting.
Data compiled by Bloomberg says traders predict a 32 percent chance that the central bank will lower it’s rates from 3.00 to 2.75 at the next RBA meeting on May 7th (Bloomberg).
If the AUD/USD does break through the 1.040 level, we could see the current bearishness continue. Meeting minutes tonight could play a role in that although it is not highly expected.
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