Daily digest market movers: Australian Dollar depreciates on US data, geopolitical risks
- The Australian Dollar will likely remain pressured due to several factors. Geopolitical risks, such as over-the-weekend developments in the Middle East, could hurt risk appetite for the AUD.
- The Aussie’s economic docket will feature the NAB Business Confidence and the Westpac Consumer Confidence for September and October, respectively. Following that, traders eye RBA’s Hauser, Kent and Hunter speeches.
- US Nonfarm Payrolls increased by 254K in September, significantly surpassing the estimated 140K and the upwardly revised August figure of 159K. The Unemployment Rate fell from 4.2% to 4.1%, lower than expected.
- Average Hourly Earnings in September rose by 0.4% MoM, down from 0.5% in the previous month but exceeding forecasts of 0.3%.
- On a YoY basis, earnings per hour increased by 4% in the 12 months to September, surpassing estimates and improving on August’s figures of 3.8% and 3.9%.
- Market participants have ruled out a 50 bps cut from the Fed. The odds of a 25 bps cut stand at 95%, with only a 5% chance of rates being held unchanged, according to the CME FedWatch Tool data.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.