• No major high-impact events this week for AU/US markets, which will move the needle.
• FOMC minutes will be released, so keep an eye out for any forward guidance, although it is unknown.
• Expect the AUDUSD to continue its bullish moves this week, ranging from 0.6598 to 0.6706.
• AUD is likely to play around the 67c level this week.
• Global reserve banks are demonstrating dovish guidance, whereas last week’s RBA guidance was perceived as somewhat hawkish, meaning we could expect the AUDUSD to remain bullish in the short term.
• The FOMC minutes this week are expected to further reinforce the case for an imminent rate cut around September, as market pricing suggests.
• The main event will be the Jackson Hole Symposium over the weekend, where FOMC Chair Powell will comment on the global situation.
• His words are closely watched by the market as hints are identified whether the rate cut is sooner or later than forecast, which will affect market pricing, hence the AUDUSD.
| Economic Calendar: Mon 19th August 2024 – Fri 23rd August 2024 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Thur | 4:00am | FOMC Meeting Minutes | US | N/A | N/A |
| 10:30pm | Unemployment Claims | US | 233K | 227K | |
| 11:45pm | Flash Manufacturing PMI | US | 49.8 | 49.6 | |
| Flash Services PMI | US | 54.0 | 55.0 | ||
| Sat | 12:00am | Fed Chair Powell Speaks | US | N/A | N/A |
| All Day | Jackson Hole Symposium | All | N/A | N/A | |
Source: forexfactory.com