Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Aussie and Kiwi ascend after Australian data
On Thursday, the Australian and New Zealand dollars inched up versus their American counterpart, following the issue of sturdy Australian employment data, while dovish minutes from the Fed’s latest policy meeting put pressure on the US currency.
The currency pair AUD/USD rallied 0.15% hitting 0.7938, of a more than one-week maximum of 0.7950 reached overnight.
The Australian Bureau of Statistics announced that the overall number of employed folks surged by 27,900 the previous month, confounding expectations for a 20,000 ascend. In June, the number of workers grew by 20,000, and this data was updated from a previously assessed 14,000 leap.
In July, the unemployment rate reached 5.6% tumbling from June’s reading of 5.7%. That’s basically line with market hopes. June’s figure was upwardly updated from a previously evaluated rate of 5.6%.
The currency pair NZD/USD tacked on 0.12% trading at 0.7322, having reached a one-week maximum of 0.7335 overnight.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
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What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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