Last week the only indicator with a higher impact was the CPI which was under expectations with 0.3%. Overall the economy is still unstable and RBA might cut the interest rate at the next monetary policy meeting.

Next week the economic calendar for Australia will be a little bit more crowded. It will be published the Commodity prices, Building Approvals, Import Prices and the PPI for the first quarter of this year.

From the chart we can see that AUDUSD was almost unchanged. The Doji candlestick shows that last week was a balance between buyers and sellers. The price didn’t close under 1.0265 which might be a first signal that from here we might witness a bounce. It depends very much on what will happen next week.