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economy is doing relatively well. For example, according to the Australian Bureau of Statistics, unemployment has moved to 4.2%, which is lower than where it was before the pandemic started. The job recovery has been supported by both manufacturers, miners, and service providers.
The next key mover for the Australian dollar will be the upcoming wage price index data that will come out on Wednesday. With inflation rising, this is the number that the Reserve Bank of Australia has been focusing on mostly. The AUD/USD pair will also react to the upcoming US consumer confidence data that will come out in the afternoon session. This is an important number since consumer spending is the biggest part of the American GDP.
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