• Heavy data this week for AU & US markets with RBA, GDP, NFP headlining this week.
• Aussie is currently hovering under 67c after bullish momentum boosted the pair last week.
• Expecting the AUDUSD to range between 0.6600 and 0.6710 this week on technical analysis.
• This week we have a few major headlining data this week for AU & US Markets.
• RBA this week in Australia, with the RBA expected to keep rates on hold @ 4.35%, despite CPI numbers falling on the monthly indicator.
• Also expecting no changes to forward guidance on the RBA.
• NFP in the US market this Friday, expecting the unemployment rate to remain the same at 3.9% and an increase in employment by 35k from previous numbers, expected 185k.
• Expecting the US labour market to continue deteriorating in 2024.
• USD is likely to remain heavy this week and can expect some volatility from the high impact data events this week.
| Economic Calendar: Mon 4th December 2023 – Fri 8th December 2023 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Tues | 2:30pm | Cash Rate / RBA Rate Statement | AU | 4.35% | 4.35% |
| Wed | 2:00am | ISM Services PMI | US | 52.5 | 51.8 |
| JOLTS Job Openings | US | 9.33M | 9.55M | ||
| 11:30am | GDP q/q | US | 0.4% | 0.4% | |
| Thur | 12:15am | ADP Non-Farm Employment Change | US | 120K | 113K |
| Fri | 12:30am | Unemployment Claims | US | 221K | 218K |
| Sat | 12:30am | Average Hourly Earnings m/m | US | 0.3% | 0.2% |
| Non-Farm Employment Change | US | 185K | 150K | ||
| Unemployment Rate | US | 3.9% | 3.9% | ||
| 2:00am | Prelim UoM Consumer Sentiment | US | 62.0 | 61.3 | |
Source: forexfactory.com