The US unemployment claims are out on Thursday at 15:30 MT time.
Will the jobs data support the aussie?
Information is not investment advice
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
The employment change shows the change in the number of employed people during the previous month. As for the unemployment rate, it represents the percentage of the total unemployed workforce. Last time, the level of employment change outperformed the forecast of 15.2 thousand people. It advanced by 28.4 thousand people. However, the actual level of unemployment rate disappointed the market with an increase to 5.2%. As a result, the aussie suffered. What will happen this time?
• If the actual level of employment change is higher and the unemployment rate is lower than the forecasts, the AUD will rise;
• If the actual level of employment change is lower and the unemployment rate is higher than the forecasts, the AUD will fall.
The US will publish the advance GDP for the fourth quarter of 2020 on January 28, at 15:30 MT time.
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The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.