Flash: AUD/USD continues to look supported - UOB Group

FXStreet (Barcelona) - Lee Sue Ann, Market Strategist at UOB Group notes that AUD/USD continues to look supported even though a minor setback came by way of January’s deeply disappointing jobs report.

Key Quotes

“This week will also be crucial as we will be receiving the minutes of the RBA meeting on Tuesday. The pickup in inflation and the already lower AUD suggest that the RBA may shift away from trying to ‘jawbone’ the AUD much lower.”

“As it is, the post-meeting statement indicated a clear shift to a ‘neutral’ policy stance by the RBA. However, a still weak labour market may see rates on hold for longer than previously expected. Key economic data on tap this week include wage price index on Wednesday.