Downside risk on AUD as focus turns to USD and the FOMC

FX:AUDUSD   Australian Dollar / U.S. Dollar
This week's focus turns to U. S.A. with the upcoming USD CPI and FOMC Monetary Policy event risks. Expectation is towards the continuation of the Fed's USD 10-bln tapering and no change on the interest rate.

In terms of the AUD, The Australian Monetary Policy Meeting Minutes is expected to reiterate their recent stance on monetary policy . This can be thought of as a lack of a reason for AUD to continue higher unless the USD event risk proves to be bearish on the USD side.

Note: The initial target may be extended as the situation develops.

Disclaimer: This is my personal analysis and opinion. It must not be taken as a trading advice.


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