Australian unemployment figures tonight to lead to market volatility for the Australian Dollar? (Daniel Wright)

Increase in Risk Appetite Helps Support the Australian Dollar

Tonight we see the release of Unemployment figures over in Australia which for the past few months has been quite a volatile economic data release and given the markets quite a bit of movement in the hours after its release therefore it is certainly one to watch out for.

Expectations are for the unemployment rate to have crept up a little to 5.9% however should the release come out slightly different than expectations then we could see a shift in the markets.

We also have trade balance figures out for China shortly before this and as most regular readers will be aware it is always important to keep a eye on Chinese data if you have a currency exchange to carry out involving the Australian Dollar as it does have quite an impact too due the the effect it has on investors attitudes to the Australian economy which has benefited greatly through Chinese expansion over the years through the export of raw materials.

There is very little else out for Australia in terms of economic data over the rest of the week but do keep an eye out for New home sales data on Friday which isn’t of great importance but may have a small impact.

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