The AUD/USD pair lost momentum last week and moved to the downside as the current situation in the EU and the RBA strategy encouraged investors to abandon Aussie.
The latest updates from the EU debt crisis and Greece affected the pair’s movements negatively, and with the start of the week investors will still focus on the fate of the Greek government and a collapse of the government in a confidence vote will add more downside pressures while on the other hand political agreement to pass the new package will support the recovery in markets.
On the other hand, the current outlook from the RBA on interest rates pressured the Aussie to lose ground against greenback and other major currencies, especially with the weak performance from the Australian economy.
On Monday at 23:30 GMT (Sunday) the Australian economy will release the ANZ Job Advertisements for October, where the previous reading was down by 2.1%.
The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of – $9.501 billion.
