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The Australian unemployment rate will be released on August 13 at 4:30 MT time!
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, EUR/AUD
Last time Australian unemployment rate jumped to the highest level since November 1998. Obviously, it was the devastating effect of the coronavirus pandemic: most companies were forced to shut down. As a result, many workers were fired. The total number even surpassed the all-time high of 992 300. Nevertheless, things are not so terrible as it may seem: employment rose by 210 800 in June, beating analysts’ estimates of a 112 000 increase. Now, Australia is suffering from the fresh coronavirus resurgence. New virus cases are inevitably rising in its state Victoria. Therefore, this time unemployment rate may surprise everyone.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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