AUD/USD: this week is a ‘biggy’ for Aussie traders

By FXStreet The week ahead is jam packed for the Asian sessions topped with the usual first Friday of the month Nonfarm payrolls key event for the greenback. But focusing on the Aussie, we have a series of data releases to keep us in our seats.

A quick glance back to last week’s volatility, AUD/USD lost over a cent in the last trading session in the US shift. The Aussie was sliding into the US GDP releases that took it’s cue from the better than the expected Durable goods report earlier in the week, as noted by analysts at ANZ and surprised to the upside. “It was for the 4Q – so old news – and later the Atlanta Fed 1Q GDP estimate was lowered to 2.1% from 2.5% (it was 2.7% not long ago), but it was the push the US dollar needed to keep the buying going for the day.” The Aussie dropped from 0.7220 down to 0.7118 to close at 0.7122 for the week.

A blockbuster week for AUD/USD

This week is a blockbuster with Aussie GDP, the RBA meeting and first read of activity for this year. Then, we turn heads to China for the February PMI suite in Manufacturing …read more

Source:: FX Street