The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.
Aussie edges up on current account
On Tuesday, the Australian dollar rallied in Asia because current account as well as China services ensured a jump ahead of the latest key bank review of interest rates with market participants watching closely further political risk events on the Korean peninsula.
The currency pair AUD/USD soared 0.15% being worth 0.7957. At the same time USD/JPY hit 109.22, decreasing 0.46%.
Australia’s current account demonstrated a surplus of A$9.6 billion, which is wider than the A$8.1 billion surplus observed during the second quarter.
The RBA interest rate verdict is supposed to see Australia’s major financial institution hold steady at a record minimum 1.50%.
The previous week, the greenback was broadly lower versus the other major currencies because Friday's dismal American employment data kept weighing and as renewed threats from North Korea dominated traders’ attention.
Trading volumes were believed to stay light with American markets unavailable due to the Labor Day Holiday.
The Federal Open Market Committee (FOMC) will update the Federal Funds Rate and make a statement about future monetary policy on July 27 at 21:00 MT.
The Australian Bureau of Statistics will announce the Consumer Price Index (CPI) on Wednesday, July 27, at 04:30 MT.
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.