AUDUSD surged over USD$79.45 cents on the back of a weaker USD, dropped in Oil futures prices to 2.8% from hurricane storms in the US.
Speech made by Federal Reserve Chair Janet Yellen on the weekend didn’t support any direction for any interest rates rise this year. Investors are looking for further trading directions with a host of data releases this week. The focus will be on ADP Non-Farm data on Wednesday as a minor indication with Non-Farm employment and Unemployment rate due out on Friday. The Market is expecting an increase in job creations with over 209,000 in new jobs during July.
DATA RELEASE THIS WEEK:
JPY – Unemployment Rate
USD – CB Consumer Confidence, ADP Non-Farm Employment Change & Prelim GDP q/q
USD – Crude Oil Inventories & Unemployment Claims
AUD – Private Capital Expenditure q/q
CNY – Caixin Manufacturing PMI
GBP – Manufacturing PMI
USD – Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate
USD – ISM Manufacturing PMI
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