- Non-farm payroll is the key headliner this week in the US, with no high-impact AU events.
- Positive change expected of 154K with unemployment rate same @ 4.1%.
- AUDUSD is sitting on key support, potential upside movement, pivoting between 0.6116 & 0.6315.
• AUDUSD is expected to fall further this week on the back of USD strength and no high-impact AUD events to boost the pair.
• President Trump’s executive orders remain a heavyweight on the AUD, including the current tariff war on heavy metals, which is affecting the AUD.
• Many banks are suggesting the RBA will start the rate cutting cycle soon, it’s a matter of time, but could be as early as April as the rest of the globe have already started.
• Non-farm payrolls (US employment) numbers are the key headliner for this week.
• Net positive change in employment expected of 154K, which is quite healthy and +ve for the USD, with a stable unemployment rate of 4.1%, again supporting the USD.
• It could be a demoralising week for the AUD, so importers must be aware of the falling price!
| Economic Calendar: Mon 3rd February 2025 – Fri 7th February 2025 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Tues | 2:00am | ISM Manufacturing PMI | USD | 49.3 | 49.3 |
| Wed | 2:00am | JOLTS Job Openings | USD | 7.88M | 8.10M |
| Thur | 12:15am | ADP Non-Farm Employment Change | USD | 149K | 122K |
| 2:00am | ISM Services PMI | USD | 54.2 | 54.1 | |
| Fri | 12:30am | Unemployment Claims | USD | 214K | 207K |
| Sat | 12:30am | Average Hourly Earnings m/m | USD | 0.3% | 0.3% |
| Non-Farm Employment Change | USD | 154K | 256K | ||
| Unemployment Rate | USD | 4.1% | 4.1% | ||
Source: forexfactory.com