Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The RBA has no clue what’s going on
Information is not investment advice
The market anticipates the rate statement by the Reserve bank of Australia at 7:30 MT on October 1.
The speech by the RBA governor Philip Lowe on September 25 increased the chances of a rate cut during this meeting. According to the head of the bank, the regulator was “surprised” by the economic slowdown. It was not sure what else hurt the economy besides the global uncertainties, weak growth of the household prices and the drought. Besides the uncertain comments, Mr. Lowe said that the bank was ready to continue the easing policy to reduce unemployment and stimulate economic growth. That is why a rate cut by 25 basis points may happen and, therefore, may weaken the Australian currency.
• If the RBA cuts its rate, the AUD will fall;
• If the RBA does not cut its rate, the AUD will rise.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!