The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.
The key release for the AUD
Australian Private Capital Expenditure will be announced on Thursday, May 28, at 4:30 MT time.
Instruments to trade: AUD/USD, EUR/AUD, AUD/JPY, AUD/NZD
Australian economic figures released in May have been mixed. The nation’s unemployment rate didn’t rise as much as it had been expected, but retail sales collapsed by 17.9%. On Thursday, it will be time to check another key indicator that reflects changes in businesses’ investment levels. Companies are quickly affected by market conditions, so the indicator can be an early signal of future economic activity such as hiring, spending, and earnings. The previous reading was the worst since the end of 2016. There is little doubt that Australia will release another negative figure. The question is: how bad is the situation?
If Private Capital Expenditure comes out stronger than the last time, the AUD will rise.
If Private Capital Expenditure results is weak, the AUD will fall.
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.