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Price action with excellent money management.
Reserve Bank of Australia (RBA) left rates unchanged at 3.50%, AUD/USD testing and breaching 1.0600 to the upside for the first time since March.
1. Employment Change (AUD) - Wednesday, Aug 8 at 9:30pm EST.
This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
2. Unemployment Rate (AUD) - Wednesday, Aug 8 at 9:30pm EST.
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
3. Trade Balance (USD) - Friday, Aug 9 at 8:30pm.
A positive number indicates that more goods and services were exported than imported.
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers.
4. Unemployment Claims (USD) – Friday, Aug 9 at 8:30pm.
This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes.
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
5. RBA Monetary Policy Statement (AUD) – Friday, Aug 9 at 9:30pm.
It provides valuable insight into the bank’s view of economic conditions and inflation – the key factors that will shape the future of monetary policy and influence their interest rate decisions.
High impact news events left this week.
1. Employment Change (AUD) - Wednesday, Aug 8 at 9:30pm EST.
This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
- Forecast: 10.3K
- Previous: -27.0K
2. Unemployment Rate (AUD) - Wednesday, Aug 8 at 9:30pm EST.
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
- Forecast: 5.3%
- Previous: 5.2%
3. Trade Balance (USD) - Friday, Aug 9 at 8:30pm.
A positive number indicates that more goods and services were exported than imported.
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers.
- Forecast: -47.4B
- Previous: 48.7B
4. Unemployment Claims (USD) – Friday, Aug 9 at 8:30pm.
This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes.
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
- Forecast: 371K
- Previous: 365K
5. RBA Monetary Policy Statement (AUD) – Friday, Aug 9 at 9:30pm.
It provides valuable insight into the bank’s view of economic conditions and inflation – the key factors that will shape the future of monetary policy and influence their interest rate decisions.
Selling Australian dollars vs US dollars today. Price expected to stay within the blue circle on the chart below.
