Market Focus

On Tuesday, November 7, 2017, the most awaited news was the RBA’s decision on the interest rate. As expected, the Reserve Bank of Australia kept the interest rate unchanged at 1.50%. The Australian dollar slightly weakened its position on the RBA’s statement that salaries and property prices remain problem areas.

Later, it is worth paying attention to the data on the number of open vacancies in the labor market of JOLTS USA. This indicator gives an opportunity to assess the state of the labor market and plays a significant role in assessing the situation on it. The indicator has a less strong impact on the movement of the US dollar, as later Non Farm Payroll is published.

According to the forecast, in September the indicator increased to the level of 6.091M, against the value of August at 6.082M. If the forecast is confirmed, the US dollar will receive some support. So, one should expect its growth in the range of 20-30 points against the basket of currencies.

Alexander Sivtsov