The AUD/USD is expected to be among the top movers this week. This currency pair continues to fall in the medium-term, according to our technical and fundamental analysis. The price is still below Ema 20, Ema 50, and Ema 100, on the daily and weekly charts. Another sign of the downtrend is that the RSI oscillator remains below 50.
The U.S, economy is in good shape, and the US Dollar will continue to rise. The U.S. continues to exceed expectations as consumers remain as confident as ever. While unemployment is at a record low, the number of jobs being created in the U.S. economy varies widely from month to month. On the other hand, the Australia's central bank is likely to retain its dovish bias and signal that they are willing to act and ease policy further if needed.
The most important data from this week:
RBA rate (1.00% expectation); ( 1.00% previous)
Australia GDP QoQ (0.4% expectation); ( 0.4% previous)
YoY (1.8% expectation); (1.8% previous)
U.S ADP Employment Change (140k expectation); ( 156k previous)
U.S NFP (162k expectation); ( 164k previous)
U.S Unemplyment rate (3.7% expectation); ( 3.7% previous)