The Aussie dollar’s fortunes have been tied to the virus and its disruption of the post-pandemic recovery. Will the country’s central bank support the currency or continue with its policy to keep it weak?
Traders may keep a watchful eye on this week's GDP, earnings, and unemployment rate releases. Some market watchers might prepare for any potential trading opportunities these upcoming news events may bring. Here is what to expect in the markets this week.
The Chinese manufacturing PMI hit 50.6, its lowest level of expansion since May 2020 as COVID-19 disrupted factory activity. The Lunar New Year break potentially contributed to the decline, as well as increasing raw material costs.
Wednesday trading saw US markets climb alongside Biden’s chances of winning. As markets opened, USA500 futures jumped, as well as the US dollar.
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