Canada will release the employment change and the unemployment rate on October 9, 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
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.