The AUD/USD pair retreated from its highest level in two months, as the US dollar was able to cover its previous losses with the end of last week, adding more pressure on the Aussie.
Risk aversion returned to control the FX market, as investors increased demand for the safe assets due to the ongoing fears regarding the EU debt crisis, which reduced demand on higher yielding currencies such as the Australian dollar.
On Monday at 22:30 GMT (Sunday), Australia will issue the AiG Performance of Construction Index for December, where the previous reading was 39.6.
At 00:00 GMT HIA New Home Sales for Australia will be issued, where it had a prior reading of 5.5%. As for the ANZ Job Advertisements for December, it will be up at 00:30 GMT with a prior reading of 0.0%.
The Australian economy will issue the Retail Sales for November at 00:30 GMT, where it’s expected to shoe a rise of 0.3% from the previous reading of 0.2%.
On Monday at 20:00 GMT, the U.S. economy will release the Consumer Credit for November, where it’s expected to come at $7.00 billion from the prior reading of $7.645 billion.
Originally posted here
