By FX Empire.com
The AUD/USD pair advanced for the third straight day as the US dollar dropped against major currencies, while the global equities rally supported the Aussie to cover some of its previous losses against the greenback.
The sentiment improved in the FX market and opened the way for higher-yielding currencies to record more gains, while greenback lost momentum after it has been in controlled of the market trading during the last period.
On Wednesday, the U.S. economy will release the ADP employment change for November at 13:15 GMT, where it’s expected to come at 128 thousands from the previous reading of 110 thousands.
The U.S. Non-Farm Productivity for the third quarter is to be released at 13:30 GMT and expected to come at 3.1% inline with the previous reading, and the Unit Labor Costs for the third quarter is also expected unchanged at -2.4%.
The Chicago Purchasing Manager for November will be released at 14:45 GMT and is expected to come at 58.5 from the previous 58.4. At 15:00 GMT the Pending Home Sales will be published and it’s expected to remain flat from the prior -4.6%.
Originally posted here
