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.
The AUD Awaits Australian Job Data
What will happen?
Australia will release employment change and an unemployment rate on July 15, at 04:30 MT time. These indicators are very important because they provide the freshest update of the situation in the Australian labor market. The employment change represents the change in the number of employed people during the previous month, and the unemployment rate measures the percentage of the total workforce that is unemployed. Last time, the indicators came out higher than the forecasts. The employment change was up by 115.2K (vs. the forecast of 30.5K), and the unemployment rate dropped to 5.1%, below the expectations of 5.5%.
How to trade on the Australian Job Data?
Follow the economic calendar and compare the actual figures with the consensus given.
- If the employment change is higher and the unemployment rate – lower than the forecasts, the AUD will rise;
- If the situation is different, the AUD will fall.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
Australia will release employment change and an unemployment rate on Thursday, October 14, at 03:30 MT (GMT+3).
Canada will release its inflation rate in different forms, including Common, Median, Trimmed, Core, and All items CPI on September 15, 15:30 GMT+3.
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?