Australian Job Data Will Impact AUD
Australia will release employment change and an unemployment rate on Thursday, November 11, at 02:30 MT (GMT+2).
Can you win with the AUD?
RBA Rate Statement is released on Tuesday at 07:30 MT time.
Instruments to trade: EUR/AUD, AUD/USD, GBP/AUD, AUD/JPY
Australian monetary policymakers already slashed the interest rate twice in March. By reducing it to the current level of 0.25%, they tried to enhance the domestic economic environment and give it the maximum possibility to recover from the coronavirus. Given the fact that the Chinese economy – the main trade partner of Australia – is already gaining back its powers, Australia should have an improved economic outlook by the time the new rate is released. The Reserve Bank of Australia (RBA) explained that there will be no intention to raise back the rate until inflation gets to 2-3% channel and full employment is reached.
- If the rate is held steady at the current level, the AUD will rise.
- Otherwise, it will fall.
Source: Forexfactory
Similar
AUD/USD Dropped After RBA & Other News
Read the article to get the latest news and fresh trade ideas!
Gold Skyrocketed, USD Dropped. What Drives The Market Today?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
Latest news
ZEW Sentiment Will Help the Euro
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2
US unemployment data and the USD
The United States will publish the Initial Jobless Claims on Thursday, December 30, at 15:30 GMT+2 (MetaTrader time).
First NFP in 2022 Can Rock the Markets
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
