Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Australian dollar inches down after RBA minutes
Information is not investment advice
On Tuesday, the Australian dollar headed south in Asia after the publication of the minutes of the RBA’s April meeting.
Eventually, the currency pair AUD/USD hit 0.7148, slipping by approximately 0.3%.
Australia’s key financial institution actually expects inflation to stay muted for some time, although suggested that it’s still open to rates cut on the condition inflation remains low, while the jobless rate jumps.
Additionally, the RBA also stressed that the deceleration in GDP surge contradicts the improvement in the Australian labour market.
Aside from that, the USD index stood still, keeping to 96.570.
The evergreen buck was pressured earlier this week because American leader came up with his hard criticism of the major US bank once again over the weekend. The blamed the key US financial institution for decelerating growth and also diving stocks by its tightening monetary policy.
While not a key directional catalyst, the Empire State manufacturing index went up by 6.4% in April to an outcome of 10.10, as the New York Federal Reserve told on Monday. It beat forecasts for an outcome of 6.70.
As Charles Evans, Chicago Federal Reserve President told, he expected the Federal Reserve to remain on pause until the autumn of 2020.
Meanwhile, the core personal consumption expenditures price index, the Fed's preferred inflation gauge hit 1.8%.
As a matter of fact, the currency pair EUR/USD went down by 0.1% reaching 1.1302 because investors wait for further news on Brexit.
Furthermore, the currency pair USD/CNY managed to tack on by up to 0.04% ending up with a reading of 6.7061.
The currency pair USD/JPY declined by 0.1% being worth 111.92.
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.