The RBA ‘pause’ on rate rises will come under the microscope today when the RBA announces their latest monetary policy statement. The expectations are for the pause to continue, but recent stubbornly high inflation numbers will add to the pressure on the RBA. Australian PMI data will also be watched closely, as will commodity prices, which have been under pressure due to recession fears. The FOMC and Non-Farm Payrolls will be the key data this week.
Current Level: 0.6635
Resistance: 0.6680
Support: 0.6580