By Chris Becker
Another US non-farm payroll print has passed with Friday’s unemployment headline number not showing some disappointing results within, namely wage growth, but this hasn’t changed the market’s view of a certain rate hike by the Fed this month. This has been priced in to most USD pairs, but the Aussie dollar is falling sharply given the rate of domestic economic decline and ongoing nothingness emanating from Canberra.
The major risks I’m looking out for this week include the blowback from the Bitcoin bubble, with gold looking ominously ripe for a wild selloff in the lead up to the Fed meeting. There’s a suite of inflation prints, plus the ECB meeting and the usual numberwang that is Australian unemployment, so lots of opportunities for currency movements!