The Australian Dollar has been rebounding in recent days after the initial sell-off following the September Reserve Bank of Australia rate decision. While the Aussie’s rebound may have more to do with the weakening, incoming labor market figures may help the rally amid signs of a still-strong domestic economy. The August Australia jobs report is expected to show further progress for the labor market, with forecasters anticipating jobs gains of +35K from -40.
US consumer confidence is rebounding as gas prices fall and US inflation rates ease, a potentially good sign for consumption trends. Concerningly, however, US consumers seem to be weathering the storm in the short-term bypiling on debt in order to sustain their spending habits. According to a Bloomberg News survey, US retail sales were unchanged at 0% m/m in August, but the retail sales ex-autos figure is due in at +0.1% m/m from +0.4% m/m.