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Does the AUD stand a chance?

Does the AUD stand a chance?

Information is not investment advice

The Australian NAB Business Confidence indicator will be announced at 02:30 MT time on Tuesday.

Instruments to trade: AUD/USD, AUD/NZD, AUD/JPY, AUD/CHF

Needless to say, Australia is not in the best company of circumstances now. Climate change keeps torturing the country by repeating statewide bushfires. At the same time, the coronavirus reduces the country’s most extensive source of trade income – China. No surprise, the last two monthly indicators were below 0, which means worsening economic conditions. Consequently, the AUD stands little chance against other currencies. Will the picture improve this week? Fundamentals say, unlikely. Still, there is always a factor of unexpected change. In the end, the market cannot know everything (if you like to know how well the market “knows” things, you can check our investigation on the Efficient Market Hypothesis).

  • If the indicator is higher than predicted, the AUD will rise.
  • If the indicator comes lower than the forecast, the AUD will fall.

Check the economic calendar

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USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

The NFP Release: One More Punch for USD?

The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.

The UK Speeds Up Tightening

The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.

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