This week in Australia is expected the release of a large block of macro statistics. Thus, the manufacturing PMI has shown growth to 48.6 compared with 46.7 in the previous month. New home sales in January increased by 0.5%. The main event of the week will be the decision of the Reserve Bank of Australia's interest rate and a statement of the central bankon monetary policy of the country in the future. Also on Tuesday, will be published the data on the balance of payments of the country.
Overall, we maintain a negative outlook on AUD/USD due to loose monetary policy of the country, the slowdown of economic growth in China, which is the main trade partner.
Wish you the profits!
FXFINPRO Capital Analytical department.