AUD / USD pair
On Friday, the Australian dollar slightly corrected from the previous six-session decline on the general weakening of the dollar index (-0.08%). Also, in connection with the release, it is better than the Australian producer price index in the first quarter forecast of 0.5% against expectations of 0.4 %. Investors are a little quickened by the news that China has set new quotas for the production of rare earth metals for domestic producers, which opens up slightly more prospects for Australian companies and account for 15% of the world's rare-earth metals production. But this morning, sales of new homes estimate showed a decrease of 2.0% in the March after -0.7% in February. The confidence index in the business circles of New Zealand fell from -20.0 to -23.4 in February. Today is a day off in China and Japan. In general, the commodity market is in a neutral situation. Part of the commodity has risen in price which has become cheaper. The American commodity price index CoreCommodity CRB is in the range of a two-week outset. The cost of freight Baltic Dry Index for the last two days has decreased from 1376 to 1361.
In the USA, an increase in consumer spending for the March estimate is expected to be 0.4%. tomorrow the RBA takes a decision on monetary policy. Due to the weakening CPI growth in the 1st quarter (0.4% versus 0.6% in the 4th quarter and the forecast of 0.5%), the RBA's economic outlook may not be as optimistic as before. We are waiting for the "Australian" to reach 0.7440.