Canada will announce its monthly GDP on July 31, at 15:30 MT time.
A chance for the Australian dollar
Australia will publish the employment change and unemployment rate on July 18, at 4:30 MT time.
The jobs data is important as it shows the economically active number of people. The indicator of employment change represents the change in the number of employed people during the previous month. As for the unemployment rate, it is the percentage of the total workforce that is unemployed. Last time, the level of employment change showed a great increase. It advanced by 42.3 thousand jobs (vs the forecast of 16 thousand jobs). The Australian dollar rose on the release. At the same time, the unemployment rate remained unchanged. Will the situation change?
• If the employment change is higher and the unemployment rate is lower than the forecasts, the AUD will go up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the AUD will go down.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…