- A miss for Home Sales and Private Sector Credit keeps the Aussie on the bearish side.
- Friday’s US expenditure reading will round out a one-sided week for the AUD/USD.
The AUD/USD slipped back towards yesterday’s lows, dropping into 0.7335 following missed expectations for Aussie Home Sales.
Month-on-month HIA Home Sales for June steepened into negative territory, declining to -4.4% (previous -4.2%), while Aussie Private Sector Credit also stepped lower, with the y/y figure coming in at 4.8% (prev. 5.1%), and the m/m Private Sector Credit for May coming in at 0.2%, which was expected to remain steady at 0.4%.
This week has been a thin showing for the Aussie with a nearly-empty economic calendar, but Friday brings US Consumption Expenditure figures to round out the week, expected later today at 12:30 GMT. The y/y price index is expected to clock in at 1.9%, a minor uptick from 1.8%, and a positive reading could set the USD back onto its bullish paces to round out the week.
AUD/USD Levels to watch
A bearish continuation will quickly see the pair breaking into new lows for 2018 beyond 0.7325, while a bullish recovery has some steep ground to cover, with the week’s high at 0.7445 and June’s peak far above at 0.7675.
Share
