Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Will the labor market support the AUD?
Australian jobs data will be announced on Thursday at 04:30 MT time.
Instruments to trade: AUD/USD, EUR/AUD, AUD/JPY, AUD/CHF
Last week, the Reserve Bank of Australia left its interest rate at 0.25% saying that no increase will take place until the progress is made towards full employment. Hence, the coming jobs data will largely contribute to financial policy. In February, jobless rate was in line with expectations at 5.1%. That, however, came after a staggering 5.3% in January, which was not among the observers’ forecasts. Therefore, an expectation for the March figure should be more conservative. Not only because of a relative unpredictability of the jobs data but because March is the first and the toughest month to reflect the true extent of the coronavirus hit.
- If the jobs data is better than forecast, it will support the AUD.
- Otherwise, the AUD will fall.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.