Aussie heads south in Asia

Aussie heads south in Asia

On Tuesday, the Australian dollar went down in Asia because the country’s major bank minutes illustrated rather a dismal picture for wage inflation.

The currency pair AUD/USD hit 0.7539, sliding 0.15%, USD/JPY reached 112.56, decreasing 0.05%. As for EUR/USD, this pair showed 1.1738, adding 0.04%.

RBA meeting minutes revealed that the key bank is nervously monitoring labor markets in other key economies. The bank pointed to scant wage pressures notwithstanding full employment.

As minutes of its November 7 policy gathering states, in most advanced economies, surge in wages as well as hourly earnings had been low enough notwithstanding everlasting reductions in spare capacity.

Overnight, the US currency rallied steeply versus a basket of crucial currencies, deriving benefits from a dip in the common currency amid soaring political uncertainty in Germany right after Chancellor Angela Merkel didn’t manage to form a three-way coalition.


The US NFP Update: What to Wait for?
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.

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Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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