AUD/USD in play below 0.7200 as slowdown fears grip broader markets

• The Aussie opens the new week on thin trading ahead of RBA’s Tuesday showing.
• Investor confidence remains weak in the early Asian market session.

The AUD/USD pairing has opened the new trading week quietly, sticking close to where it closed out last Friday near 0.7170. Declining economic figures from China and investor concerns about a growing global slowdown saw the Aussie weaken late last week into a fresh bottom at 0.7150, and the new trading week is seeing a quiet start as investors gear up for the new week.

Saturday saw China’s House Price Index clip into 9.3% versus the previous 8.6%, and the improved reading is helping to keep early-Monday investor confidence on-balance after last week’s Retail Sales and Industrial Production misses. Monday itself sees a limited start on the calendar with no meaningful data slated for the early session, though Tuesday will be bringing another round of the Reserve Bank of Australia’s (RBA) Meeting Minutes, and declining Australian/Chinese economic data in recent weeks could push the RBA further into their dovish trench, which would further pull investor confidence out of the Aussie.

AUD/USD Technical Levels