The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
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.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…