The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The jobs data may support the AUD
The Australian jobs data will be out on May 16, at 4:30 MT. The indicator of employment change demonstrates how many people were employed during the previous month. Analysts anticipate it to advance by 15,200 people this time. As for the unemployment rate, it is anticipated to remain at the same level of 5%. The indicators may bring positive momentum to the AUD, which is struggling amid the trade tensions.
• If the actual level of employment change is higher and the unemployment rate is lower than the forecasts, the aussie will go up;
• If the actual level of employment change is lower and the unemployment rate is higher than the forecasts, the aussie will go gown.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.
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