The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
The jobs data may push the CAD up
Canada's jobs data is expected on February 8, at 15:30 MT time.
The employment indicators are very important, as they show the level of consumer spending in the country. Last time the actual figures supported the CAD. In particular, the level of employment change reached 9.3 thousand jobs (vs. the forecast of 6.8 thousand) and the unemployment rate fell to 5.6% (vs. the forecast of 5.7%). If this time the situation repeats itself, the CAD will be stronger.
• If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will move up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the CAD will fall down.
The RBA will make a rate statement on August 4 at 7:30 MT time.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…