USD dropped to its lowest since the US presidential election in November 2016 after the US employment report missed both analyst forecast in May.
USD fell against nine of its G-10 peers with AUD advanced 0.9% to US74.43 cents before coming back down to now trading around US74.26 cents. AUD also rebounded more than 3% against the spot price of iron ore. All focus will be on Thursday with the election in England and on the local front, investors will be looking at the Trade balance in both Australia & China.
DATA RELEASES FOR THIS WEEK:
GBP – Services PMI
USD – ISM Non-Manufacturing PMI
AUD – Cash Rate & RBA Rate Statement
AUD – GDP q/q
AUD – Trade Balance
CNY – Trade Balance
GBP – Parliamentary Elections
EUR – Minimum Bid Rate & ECB Press Conference
USD – Unemployment Claims
CAD – BOC Gov Poloz Speaks, Employment Change & Unemployment Rate
GBP – Manufacturing Production m/m
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