
Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
The Australian employment change and the unemployment rate will be released on November 19, at 02:30 MT time.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
It’s not a secret that employment represents an important part of a country's economy. Given current unstable market conditions and lockdowns across the globe, traders pay particular attention to the employment change and the unemployment rate. Last time, September's job data for Australia was cautiously optimistic. While the employment fell by a smaller-than-expected number of people in September (-29.5K vs. -38K expected), the unemployment change reached 6.9% (vs. 7% expected). Despite that, the country is still far from a complete recovery, according to the RBA members. That is why the AUD was not impressed by the release. Will the situation change this time?
Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
Risk assets are recovering after a losing streak in the previous week as progress in the extra US stimulus package improved the market sentiment.
Saudi Aramco site was hit by missiles on Sunday - no damage to oil supply was taken, but investor fear drove the price into the upside. Time to trade the cooling off then!
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
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