FXStreet notes that the United States of America is set to release some relatively important data at 13:30 GMT regarding personal income and spending, while the Chicago PMI is expected at 14:45 GMT. Economists at TD Securities forecast the data. “CPI and PPI data point to an above-trend 0.3% m/m rise in the core PCE index, with the y/y change likely rising to 1.8% from 1.6%.
FXStreet notes that the Reserve Bank Board (RBA) will meet on March 3 next week and Bill Evans, Chief Economist at Westpac Institutional Bank is not expecting the RBA to remain on hold. AUD/USD trades at 0.6532. “We expect the cash rate to remain on hold. However, we do confirm our call for a cut from the RBA at the following meeting on April 7.
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