The AUD/USD pair was little changed with the beginning of the New Year, where thin trading controlled the FX market due to the absence of fundamentals and market participants.
The Aussie on the other hand was able to gain momentum against the US dollar last week to close the 2011 trading recording its highest level in three weeks.
Expectations for the AUD/USD pair remain to the downside, while this week could witness a thin trading due to the New Year holiday, which will drag investors out of the market.
On Tuesday at 22:30 GMT (Monday), The Australian economy will release the AiG Performance of Manufacturing Index for December, where the previous reading was 47.8.
At 05:30 GMT the RBA Commodity Price Index for December will be up, which had a prior reading of 107.7, as for the annual reading it had a prior reading of 18.1%.
On Tuesday at 15:00 GMT, the U.S. economy will release the Construction Spending for November, where the previous reading was 0.8% and it’s expected to come at 0.5%.
The ISM Manufacturing for December will be up at the same time, and it’s expected to come at 53.2 from the prior 52.7.
On the other hand, the Federal Reserve Bank of America will release the FOMC minutes for Dec. 13 meeting at 19:00 GMT, where the bank statement will affect the pair’s movements.
Originally posted here
