AUD Direction to be Set by FOMC Minutes and Employment

This could be “a make or break week” for the Australian dollar with three major factors – the Federal Open Market Committee (FOMC) minutes, Chinese and Australian economic data – set to determine whether the embattled currency will break below the key $0.90 level or reverse its downtrend.

The Aussie, which has depreciated 12.5 percent against the U.S. dollar over the past three months, has been hit by a slew of concerns including falling commodity prices, a slowdown in Australia’s top trading partner China and the prospect of the U.S. Federal Reserve scaling back its extraordinary monetary support. The currency is now at its lowest level against the greenback in two and a half years.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza