
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The Reserve Bank of Australia will make the cash rate statement on May 3, at 07:30 MT. It’s usually published every first Tuesday of the month. The cash rate is charged on overnight loans between financial intermediaries. Its amount is determined based on the interaction of demand and supply of overnight funds. This release is crucial for AUD.
Australian CPI rose at the fastest annual pace in two decades last quarter. As gasoline, housing, and food prices rose, interest rates may rise from their earlier record lows. The Reserve Bank of Australia no longer needs to keep interest rates at an extremely low 0.1% and may raise them soon, rather in May than in June. Besides, the RBoA hasn’t changed the interest rate since November 2020.
Inflationary pressures have intensified and expanded, and the 0.1% cash rate target is no longer appropriate. Analysts now expect the RBA to rise 15 basis points. Markets have also quickly narrowed the chances of a rise to 0.25%. Although, many are still in favor of a June hike, given that such a sudden move may spark political unrest so close to the May 21 parliament election.
The last release had a positive impact on the currency. The AUDUSD pair rocketed 1150 points that day. The rate result was the same as expected, 0.10%.
The greater “Actual" vs. “Forecast" is, the better it is for the currency.
Check the Economic Calendar.
Instruments to trade: AUDUSD, AUDCHF, AUDNZD, AUDJPY
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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