Upside hopes for the GBP?
The British monthly GDP is announced on Friday at 09:00 MT time.
How will the jobs data affect the AUD?
The Australian jobs data is announced on Thursday at 03:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, AUD/CAD
The Australian jobs data is as important for the AUD as the NFP is to the USD. Employment in Australia has been rising since late spring. In May, the rate was 58.2 – that was the rock bottom of the virus crisis. Then, it gradually started to rise to eventually come to the current 60.3 in August. That means, the economic recovery is taking place in Australia, and the labor market is responding to that. So as long as the figures are above the expectation, the AUD will rise. Otherwise, it may lose the optimistic vibe. We will see what we have for September.
- If the figures are better than the forecast, it will boost the AUD.
- If the figures are worse than thought, the AUD will go down.
Similar
Strong USD on Tuesday
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
Will the USD grow with the US labor market?
The US unemployment claims are out on Thursday at 15:30 MT time.
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ECB report is in focus
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Markets await Biden to unveil "trillions dollars"
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
USD came under selling pressure
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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