This week will see a weightier although thinner news agenda, with key U.S. Non-Farm Payrolls data due at the end of the week, following monthly policy commentaries and bid rates due from the Reserve Bank of Australia. Volatility this week should be relatively high compared to recent readings.
The market will probably be most active on Friday.
China is on holiday for the entire week, while Monday is a public holiday in Australia and Tuesday is a public holiday in Germany.
U.S. Dollar
It will be an important week for the greenback, starting on Monday with a release of ISM Manufacturing PMI data. On Wednesday, we will get the ADP Non-Farm Employment Change forecast, followed by ISM Non-Manufacturing PMI, Crude Oil Inventories, and the Chair of the Federal Reserve delivering opening remarks at a banking conference. Thursday will bring Unemployment Claims numbers. Finally, on Friday we will get Average Hourly Earnings, Non-Farm Employment Change, and Unemployment Rate data.
Australian Dollar
It will be an important week for the Aussie after Monday’s public holiday, with releases of the Reserve Bank of Australia’s Rate Statement and Cash Rate due on Tuesday. On Thursday, we will get Retail Sales and Trade Balance numbers.
British Pound
It will be a reasonably busy week for the British Pound, with the release of Manufacturing PMI data on Monday, and Construction PMI on Tuesday. On Wednesday, we will get Services PMI numbers.
Canadian Dollar
It will be a reasonably busy week for the Loonie, starting with the release of Trade Balance data on Thursday. There will be releases of Employment Change and Unemployment Rate numbers on Friday.