By FX Empire.com
The AUD/USD pair traded in a narrow range early Wednesday, nevertheless the worsening outlook in Europe soon sent the pair violently to the downside.
The Westpac Consumer Confidence in Australia advanced to 6.3 during September from the prior reading of 0.4, but the cheerful data didn’t support Aussie against the greenback.
Expectations for the AUD/USD pair depend on the US dollar movements, where the greenback is currently retaining the strength against major currencies due to risk aversion which increased demand for haven assets.
On Thursday at 23:30 GMT (Wednesday), The Australian economy will issue the Consumer Inflation Expectation for November, where it had a previous reading of 3.1%.
On the other hand, the Employment Rate for October is expected to come at 5.3% compare to the previous reading of 5.2%, while the Employment Change is expected to come at 10.0 thousand from the prior 20.4 thousand.
At 12:30 GMT, the U.S. economy will release the Import Price Index for October, which had a previous reading of 0.3% and it’s expected to come at 0.3%, on the other hand the annual Import Price Index had a prior reading of 13.4%.
Trade Balance for September will be released at the same time, where the previous deficit was $ 45.6 billion and expected to widen to $46.0 billion.
At 12:30 GMT, the U.S. economy will release its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped to 397 thousand last week.
Originally posted here
