Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Will the Australian job data support the AUD?
Australia will publish the level of employment change and the unemployment rate at 2:30 MT on November 14.
The employment change shows the change in the number of employed people during the previous month, while the unemployment rate is the percentage of the total workforce that is unemployed. During the previous release, the unemployment rate fell to 5.2% (vs. 5.3%). The AUD ignored the lower-than-expected figures of employment change and jumped on the positive unemployment rate by more than 30 pips right after the release. Will the situation repeat itself this time?
• If the employment change is higher and the unemployment rate is lower than the forecasts, the AUD will go up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the AUD will go down
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
The market has started the week with a mixed sentiment…
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.