Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
The RBA meeting is coming
The Australian dollar tested the lowest levels since January's flash crash below 0.68 on the risk aversion yesterday. Is there any hope for the aussie to recover? The answer is yes but at first, we need to wait for the Reserve bank of Australia's meeting today at 7:30 MT time.The central bank has made two rate cuts in June and July. This time, the interest rate is expected to remain steady at a record low of 1%. The inflation data came out in line with the forecasts, that is why the chances of a third rate cut are quite low. We need to pay attention to the tone of the statement and to the hints on the future rate cuts. Dovish comments by the RBA governor Philip Lowe will make the currency weaker. Pay attention to the 0.6745 level, which may be broken in that case. Otherwise, AUD/USD may reverse and reach the 0.6851 level.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
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Start the week with fresh analytics!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
Uncertainty underpinned USD
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.
US dollar turned up after closing in red yesterday
The market sentiment is mixed, but there are still interesting movements on the market.
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