The Key Economic Events for This Week December 16-20.
1. Thursday - AUD Employment Change @ 1:30am
2. Thursday– GBP Interest Rate @ 1:00pm
3. Friday¬¬ ---US Gross Domestic Product (q/q) @2:30pm
4. Friday ------ CAD Retail Sales (m/m) @ 2:30pm
AUSTRALIA EMPLOYMENT CHANGE: The Australia will release its employment change figure on Thursday. Employment in Australia decreased by -19k in the prior month and it's expected to have added 14k jobs for the month of November. Unemployment rate is also expected to remain unchanged at 5.3%. A worse than expected outcome will be negative for the Aussie while a better than expected outcome will be positive for the Aussie.
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.
US GROSS DOMESTIC PRODUCT - The United States will release its 3rd quarter data for gross domestic product on Wednesday. The gross domestic product is expected to show a 2.1% growthin the 3rd quarter. A better than expected outcome will strengthen the USD while a weaker than expected will be negative for USD.
CANADA RETAIL SALES: Canada will release its retail sales figure on Friday for the month of October. The retail sales are forecast to increase by 0.5% m/m for the month of September, improving slightly from a -0.1% drop in the prior month. Any deviation from the expected figure will have effect on the Canadian Dollar.