FX Week Ahead - Top 5 Events: BOE & RBA Meetings; Canada, New Zealand, US Jobs
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FX Week Ahead Overview:
The first week of a new month brings about the usual smattering of ‘high’ rated event risk from around the globe.
The global economic recovery from the coronavirus pandemic is in focus, with two central bank meetings and three major labor market reports (including April US NFP).
Overall, recent changes in retail trader positioning suggest that the US Dollar still has a mixed bias.
05/04 TUESDAY | 04:30 GMT | AUD Reserve Bank of Australia Rate Decision
The RBA’s May meeting may come and go without many surprises, given the recent tone that’s been established over the course of many weeks and months. But the fact of the matter is that the RBA still has some QE allocated henceforth, and there may be some language around the timing of bond purchases later this year. Absent that, however, the RBA may offer some light jawboning around the Aussie itself, which it has considered overvalued during the pandemic recovery.