By FX Empire.com
The AUD/USD pair dropped with the beginning of the week as the greenback gained against most of its major counterparts after strong words from President Barack Obama regarding the Chinese currency being under evaluated.
The United States President cleared that there’s a lack of actions from the Chinese authorities on their currency valuation, which increased pressure on the greenback.
On Tuesday at 00:30 GMT, the Reserve Bank of Australia will release the November meeting’s minutes.
On Tuesday, the U.S. economy will release the Producer Price Index for October at 13:30 GMT, where the previous reading was up by 0.8% and it’s expected to drop by 0.2%, while the annual Producer Price Index for October is expected to come at 6.3% from the previous 6.9%.
The Advance Retail Sales for October will be released at 13:30 GMT with a previous reading of 1.1% and it’s expected to retreat to 0.2%.
At 13:30 GMT, the Empire Manufacturing for November will be released, where it’s expected to come at -4 from -8.48. The Business Inventories for September will be released at 15:00 GMT, and it’s expected to come at 0.5% in line with the previous reading.
Originally posted here
