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Australia will release employment change and an unemployment rate on Thursday, October 14, at 03:30 MT (GMT+3). The employment change shows the change in the number of employed people during the previous month, while the unemployment rate measures the total workforce that is unemployed.
These indicators are significant as they provide the most relevant information about the Australian labor market. In addition to the direct impact (more jobs are good/fewer jobs are bad), the Reserve Bank of Australia bases its policy decisions on the jobs data. The encouraging data may force the RBA to tighten the policy earlier than initially thought, which would push the AUD up.
Last time, the data was mixed. The employment change was down by 146.3K (vs. the forecast of -78.5K), and the unemployment rate was 4.5%, beating expectations of 5.0%. AUD/JPY jumped briefly but then dropped dramatically.
Traders usually compare the actual job numbers with the market forecast, which appears a few days before the report in the economic calendar.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
What will happen? Reserve Bank of Australia will announce the interest rate at 07:30 (GMT+3) on Tuesday, September 7…
Australia will release the employment change and unemployment rate on August 19, at 04:30 MetaTrader time (GMT+3).
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
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