
The RBA Rate Statement comes on June 1, at 07:30 GMT+3.
Today, the Australian authorities announced the unemployment rate at 5.3% as expected by the analysts. It signals a 0.1% increase in the number of jobless people since the previous release, while the RBAs target was 4.5%. At the same time, employment fell by 19K. This again shows a worse scenario against the 15K growth forecast.In consequence, the AUD fell drastically against most of the currencies. On the H1 chart of AUDUSD, the price dropped by 43 pips from 0.6839 to 0.6796. Currently, the Australian dollar is in the correction. However, there is no certain indication so far that the trend is planning to revert to the bullish direction. The resistance level may be placed at 0.6839, while the bears may have 0.6796 to watch for. If it is broken, the price will likely go for the support level of 0.6776.
The RBA Rate Statement comes on June 1, at 07:30 GMT+3.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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