THE KEY ECONOMIC EVENTS FOR THIS WEEK November 4-8

Category: Fundamental News

1. Tuesday- AUD Interest Rate @4:30am
3. Thursday – GBP Interest Rate @ 1:00pm
4. Friday - CAD Employment Change@ 2:30pm

AUSTRALIA INTEREST RATE - The Bank of Australia will release its interest rate on Tuesday. The Market expectation is for RBA to maintain the benchmark rate at 0.75%.The labor market continued to be flexible, and there are some preliminaryhints that the housing market has started responding positively to the lower interest rate settings.However, the market will turn its attention to the accompanying statement. A hawkish statement will strengthen the Aussie while a dovish statement will weaken Australian Dollar.

UK Interest Rate Decision-The United Kingdom will release its interest rate decision on Thursday. The market expects the BOE to leave rate unchanged at 0.75%. Should the rate remain unchanged and the overall market is correct and the BOE remain on hold, the market will turn its attention to the accompanying statement. A hawkish statement will strengthen the pound while a dovish statement will weaken the pound.

CANADIAN EMPLOYMENT CHANGE - Canada will be having its employment change report on Friday. The employment report which consist of full-time and part-time employment change. This means the report can be misleading if Full-Time contrasts with the headline. The prior employment change was at 70k. Also, the unemployment rate is forecast to remain at 5.5%. Therefore, any significant deviation from market expectation will likely influence the CAD. A better than expected figure will strengthen CAD while a worse than expected figure will weaken the loonie.

Published: 2019-11-04 10:27:10