Russian-Ukrainian conflict is influencing every economic aspect…
Will the AUD have a reason to rise?
RBA will share its Monetary Policy Meeting Minutes on Tuesday at 04:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, EUR/AUD
On May 5, the Reserve Bank of Australia announced it would hold the interest rate steady at 0.25%. It also said that there would be no intention to increase it unless and until the economy moves towards full employment. Noting the fragile state of the labor market, that target will stay far away in the nearest future. However, we will want to know the exact details about the estimated damage that the Australian economy is expected to suffer in the Q2 as that will largely define how the recovery will go. Therefore, we will look for those details in the Monetary Policy Meeting Minutes to grasp the overall tone of what’s coming to Australia in the nearest months.
- If the Meeting Minutes give brighter details in the economic outlook, the AUD will rise.
- If the Meeting Minutes share a harsh economic outlook, the AUD will fall.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.