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Australia is printing its labor market numbers while China has a data dump on tap.

Planning on trading the Aussie this week?

Here’s what you can expect from the events!

Labor market numbers (May 14, 1:30 am GMT)

  • Australia added 5.9K jobs in March vs. projected 33K drop, unemployment rate up from 5.1% to 5.2% vs. 5.4% consensus
  • AUD still dropped during the session as traders took cues from a weak U.S. session trading
  • Jobless rate is expected to jump from 5.2% to 7.8% in April
  • A net of 4.5 million Australians could have lost jobs for the month
  • Participation rate is seen dipping from 66.0% to 65.2%

China’s data releases

  • Consumer price index (May 12, 1:30 am GMT) could drop from 4.3% to an annual rate of 3.7%
  • Producer prices (May 12, 1:30 am GMT) is seen dropping by another 2.6% in April
  • Fixed asset investment (May 15, 2:00 am GMT) to drop by another 8.5% (from -16.1%) in April?
  • Industrial production (May 15, 2:00 am GMT) seen gaining by 1.5% after dipping by 1.1%
  • Retail sales (May 15, 2:00 am GMT) could post another 5.2% drop

Overall risk sentiment

  • Updates on Australia reopening its economy can continue to support AUD
  • Top-tier releases like U.S.’ CPI and retail sales and U.K.’s GDP reports can affect traders’ appetite for high-yielding currencies like AUD
  • Watch out for other major catalysts and their impact on commodity prices

Technical snapshot

  • Stochastic is signaling AUD’s “overbought” conditions against EUR, GBP, USD, and CAD on the daily time frame
AUD Forex Pairs Stochastic from MarketMilk
AUD Forex Pairs Stochastic from MarketMilk
  • Watch out for reversal opportunities on AUD/USD, AUD/CHF, EUR/AUD, AUD/JPY, and GBP/AUD’s daily time frame
AUD Forex Pairs SMAs from MarketMilk
AUD Forex Pairs SMAs from MarketMilk
  • AUD has seen the most volatility against JPY, CHF, USD, and EUR in the last seven days
AUD Forex Pairs Volatility from MarketMilk
AUD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read AUD’s price recap for May 4 – 8!