The US NFP Update: What to Wait for?
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
Aussie and Kiwi move down vs. greenback in late trade
On Wednesday, the Australian and New Zealand dollars slumped because comments by Fed officials kept backing the US dollar and traders were waiting for the Reserve Bank of New Zealand’s policy verdict due on Thursday.
The currency pair AUD/USD went down 0.24%, trading at 0.7562, the lowest value since June 14.
The greenback remained backed by quite hawkish remarks made by New York Fed president William Dudley. He underpinned hopes for the Fed to keep hiking interest rates.
However, Chicago Fed president Charles Evans offered a more dovish outlook after Monday’s market close, suggesting that it might be worthwhile for the major American bank to wait until year-end to make a decision whether to lift rates again or not.
The currency pair NZD/USD went down 0.18%, trading at 0.7228.
On Thursday, the RBNZ was generally supposed to leave interest rates intact at 1.75%. Traders were focused on comments by RBNZ Governor Graeme Wheeler for any signals on the major bank’s future policy moves.
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The Reserve Bank of Australia will make the cash rate statement on May 3, at 07:30 MT.
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The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
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The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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The US PPI will come out on Thursday, May 12, at 15:30 MT time.
