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Coming up in the early hours of tomorrow, we have some key data that routinely moves the Asian commodity currencies.
There is likely some pent-up fundamental energy in the market since we haven’t had much in the way of major data releases for the last several days. The RBA has turned its focus towards employment as guiding its rate policy. And we are still waiting for the next rate cut!
There have been some recent developments in the economic landscape that have affected sentiment in Australia. The general upbeat outlook has muted a bit since Monday after the White House disclosed a “phase 1” deal was farther off than what many analysts were hoping for.
However, there is an increasing market optimism thanks to the Fed. On the one hand, an expanding balance sheet, and on the other, the latest rate cut being signaled as the last “insurance” installment.
What We Are Looking For
The number that usually gets the market’s attention is the Employment Chang...
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