Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
Jobs data for Australia may support the AUD
Australia will release the level of employment change and unemployment rate on August 15, at 4:30 MT time.
The level of employment change shows the number of people employed during the previous month. The unemployment change, in its turn, is the percentage of the unemployed workforce. Last time the indicator of employment change rose only by 0.5K people (vs. the forecast of 9.1K). The unemployment change came out in line with the forecast at 5.2%. The Australian dollar ignored the negative figures of employment change and got higher. Let's see how the release will affect the currency this time.
• If employment change is higher and the unemployment rate is lower than the forecasts, the AUD will rise;
• If employment change is lower and the unemployment rate is higher than the forecasts, the AUD will fall.
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