Immediately following the publication of the minutes from the December RBA meeting, the Australian dollar weakened, while the AUD / USD fell 0.33% (or 25 points), to an intraday low near the 0.7508 mark (see "Technical Analysis and Trading Recommendations").
Nevertheless, by the end of the Asian session, the AUD / USD recovered significantly, helped by the publication (at 02:00 GMT) of positive macro statistics from China, which is Australia's largest trade and economic partner.
Tonight (from 22:00 to 24:00 GMT) a block of important macro statistics for Australia will be published, including the PMIs in the services and manufacturing industries of the country, as well as the composite PMI from the Commonwealth Bank of Australia and Markit Economics as well as the Westpac leading Economic Indicators Index. Positive data is expected with indicators above 50, which indicates an increase in business activity. The higher the value, the more positive impact it will have on the AUD and the AUD / USD pair.
However, the impact of the publication of these indicators on the AUD will be of short-term significance. Today starts the 2-day Fed meeting, which will end on Wednesday with the publication (at 19:00 GMT) of the decision on the interest rate. The rate is expected to remain unchanged at 0.25%. Market participants will study the comments on the decision and follow the Fed's press conference, which starts at 19:30. The Fed leaders are likely to confirm their inclination to conduct extra soft monetary policy. The more unexpected their statements are, the more volatility will grow in the financial market, and above all, in the quotations of the US dollar, which continues to remain under pressure and decline towards almost 3-year lows near 88.15.
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