WEEK AHEAD: NFP EYED , AUD BULLS IN CONTROL

Hello Traders and Investors, I bring you the Weekly Newsletter for the AUDUSD pair

Australia releases Q1 GDP on Wednesday and trade balance on Thursday. The trade balance will be closely watched to see if the Chinese slowdown is impacting Australia’s terms of trade which could be a negative for equities.

The Australian dollar has sat on the US dollar correction higher but despite data, elections, and monetary policy changes, the short-term direction of the currency continues to be dominated by the swings in risk sentiment day-to-day

Though the dollar fell for a second week, the global reserve currency remains in an uptrend.
Investors will be looking ahead to Friday’s Non-farm Payrolls report which could help set the market sentiment for June. The data for May is expected to show that the labour market remains strong with 320,000 jobs added in May slowing from 428,000 in April. Wage growth is to remain solid, unemployment rate expected to tick down to 3.5%


The economic Calendar also features data on Private Sector Hiring, Jolts Job Openings, Weekly Figures on Initial Jobless Claims. ISM data on manufacturing and service sector activity. There will also be a report on Consumer Confidence. Investors will also get the chance to hear from several Fed Policymakers on the economic outlook. The Fed is also due to publish its latest Beige Book on Wednesday.


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