Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
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
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.