AUD/USD Weekly Outlook for March 28, 2011 – April 01, 2011

By ForexMansion.com

The pair continued the upside movement over the past week reaching as high as 1.0292, in light of the rise in gold which has recorded a historical rise of 1447.70 along with the increasing risk appetite, pushing demand on high yielding currencies.

On the other hand, the pair is expected to decline during the next week in light of the lack of Australian economic data with the expectations the pair will start the correctional movement, especially amid dollar strength.

Data on Building permits during February will be released on Thursday where the previous reading showed a low value of 15.9%, while the annual reading also showed a low value of 24.8%. The seen decline was a result of the monetary tightening from the Reserve Bank of Australia (RBA) that negatively affected the performance of construction.

Also on Thursday seasonally adjusted retail sales index during February will be released where good figures will be good in favor of aussie gains and support the expectations for the RBA to return to the hawkish bias. 

More March 28, 2011 Fundamental Analysis:

• USD/CAD Weekly Outlook for March 28, 2011-April 01, 2011
• USD/JPY Weekly Outlook for March 28, 2011 – April 01, 2011
• USD/CHF Weekly Outlook for March 28, 2011 – April 01, 2011
• GBP/USD Weekly Outlook for March 28, 2011 – April 01, 2011
• NZD/USD Weekly Outlook for March 28, 2011 – April 01, 2011
• EUR/USD Weekly Outlook for March 28, 2011 – April 01, 2011
• AUD/NZD Weekly Outlook for March 28, 2011 – April 01, 2011