The Canadian, Australian and New Zealand dollars will be in focus next week.
Not only are employment reports due for releases from all 3 countries, but the Reserve Bank of Australia will also be meeting to decide on interest rates. The market expects the labor markets to slow which is the reason why the RBA will leave interest rates unchanged. Retail sales were released this morning and even though they were stronger than expected, the impact on the Australian dollar was limited. We expect the Australian dollar to continue to rise on the belief that service sector PMI and the trade balance will be Aussie positive.