It is a packed day for data and info (Reserve Bank of Australia meeting) from Australia
I posted previews yesterday:
Coming up at 0030 GMT:
- Australian retail sales data for January due Tuesday - preview
- Australia data preview - Q4 current account due Tuesday (GDP data input)
- Australia data preview - Public demand (key growth driver & GDP input)
- Australia data preview - Q4 net exports due Tuesday (GDP data input)
Then, at 0330 GMT:
And more previews today:
The 0030GMT data:
- Australian retail sales data for January due 0030 GMT - preview
- Australia data preview - Q4 net exports due 0030 GMT
- Australia data preview - Q4 current account due 0030 GMT
RBA:
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Sorting through all the data and RBA will be complex, with plenty of negatives and positives to weigh. For the currency, levels to watch for:
Resistance
- 0.7770/75 ... though right now its finding sellers around 0.7765
- 0.7790
- 0.7810/20
- 0.7840/50
Support
- 0.7730/40
- 0.7700/10
- 0.7650/60
In addition to the data and RBA today, US tariff moves are weighing (impact on commodity prices a concern). AUD/USD is likely a better sell on rallies for intraday moves, but keep an open mind on the currency 'cause it keeps on hanging in there.