• Very light week for data with no major headliners to be aware of.
• Unemployment claims in the US are expected at +220k, around the same as previously.
• Expecting AU to remain bearish this week, hovering between 0.6398 & 0.6555.
• AUD will remain heavy in the absence of any high-impact data in both AU/US markets.
• We could see the AU get closer to the 64c handle this week.
• As we head into the last 2 weeks of November, we could see asset portfolio rebalancing begin where investors purchase more USD assets, adding to USD strength and weakening the AUDUSD pair.
• No major headliners this week for both markets, but unemployment claims can indicate how the US job market is faring, with an expectation of +220k claims, around the same as the previous figure.
• Trump’s win remains a positive sign for the USD and will likely drive the USD this week as well.
• Will have to wait till next week to see if the AUDUSD can make some potential recoveries.
| Economic Calendar: Mon 18th November 2024 – Fri 22nd November 2024 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Thur | 7:00pm | RBA Gov Bullock Speaks | AU | N/A | N/A |
| Fri | 12:30am | Unemployment Claims | US | 220K | 217K |
| Sat | 1:45am | Flash Manufacturing PMI | US | N/A | 48.5 |
| Flash Services PMI | US | N/A | 55.0 | ||
Source: forexfactory.com