AUD/USD Forecast: Modest recovery ahead of RBA’s decision

The AUD/USD pair recovered some ground at the beginning of the week, ending the day near a high set at 0.7786. Encouraging Australian data released at the beginning of the day provided support to the pair, as the AIG Performance of Manufacturing Index improved to 58.8 in February from 55.3 in the previous month. The Commonwealth Bank Manufacturing PMI for the same month printed at 56.9 from 56.6 in January. Also, February TD Securities Inflation resulted at 1.6% YoY. The advance picked momentum in the American session, as US stocks were boosted by upbeat local data. The Reserve Bank is having a monetary policy … (full story)

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