The Aussie, despite the aggressive strengthening of the US dollar, was stable on Thursday.
The Australian dollar has demonstrated the stability due to the commodities market and its own fundamental data.
Yesterday the iron ore added 0.25% ($51.36), the oil prices dropped slightly, but the precious and industrial non-ferrous metals showed an increase. The business activity in the manufacturing sector rose to 51.8 in June against the previous 51.0.
Today the US is to publish data on Manufacturing PMI from Markit and ISM, which are expected unchanged.
On Monday, Australia is to publish data on building permits in May. Investors expect a decline -3.9% for the month, -6.5% annualized. On Tuesday, the meeting of the RBA will be held. We have heard hints of lowering rates. We expect a decline in the pair AUD/USD.
How to trade
We would buy put options if the pair AUD/USD falls below 0.7430.
Target price: 0.7430
Expiry time: 20:00 GMT