AUD / USD
On Friday, the Australian dollar continued to decline and lost 35 points. Unlike the euro, it did not have any positive or external support. Oil (Brent) lost 3.29%, iron ore -0.11%, copper -2.19%. Today is a holiday in China and Australia will release residential prices for the first quarter tomorrow, with the forecast of -1.0%. Also, the RBA minutes from the last meeting will be published tomorrow, which will mark anxiety about the trade wars. According to the US on Tuesday, an indicator of construction of new homes will be released in May, and the forecast predicts an increase of 1.4%.
A slight sensation arose on the Australian debt market for the first time in the past 18 years, while the spread between 10-year US and Australian bonds has become negative (-0.241 points). This is an additional pressure factor for the Australian currency.
We are waiting for the AUD/USD currency pair in the range of 0.7375 / 85. Further support will be the lower boundary of the price channel 0.7352.
* The presented analysis of the market is informative and is not a guide to the transaction.
