There is a high probability that the Bank of Canada will cut interest rates this week. The US and Canada are expected to fall below 1.3601 support and look at 1.3400

Market analyst Saqib Iqbal wrote that the USD/CAD weekly forecast shows more downside potential because the Bank of Canada is likely to cut interest rates this week, far ahead of the Federal Reserve. On the technical side, USD/CAD has fallen below the bullish trend line and is approaching the 1.3601 support level.

FX678 Finance01:36 ET

Australia's 1Q GDP Print Expected to Show Weak Growth

Australia's Q1 GDP print, due out later this week, is expected to show weak growth of 1.2% on year and 0.2% on quarter, says Paul Bloxham, chief economist for Australia, NZ & global commodities at HSBC.

WSJ23:44 ET

Will the Reserve Bank of Australia continue to raise interest rates? The money market is betting that it may “act” again in August

The Bank of Australia is seen as the only major central bank that risks raising interest rates.

Zhitong Finance22:30 ET

Australia's Minimum Wage Increase Largely in Line With CPI -- Update

Australia's minimum wage will be raised by 3.75% from July 1, with the Fair Work Commission saying the decision is consistent with getting inflation back to target by the end of next year.

WSJ21:43 ET

Australia Raises Minimum Wage 3.75%, Aiding RBA Inflation Fight

Australia’s industrial relations umpire raised the national minimum wage by 3.75%, aiding the Reserve Bank’s efforts to return inflation to the 2-3% target by next year.

BNN Bloomberg21:16 ET

RBA's Hauser Says Inflation 'Predominant Challenge,' AFR Reports

Australian central bank Deputy Governor Andrew Hauser said the “first and predominant challenge” for policymakers is to bring down inflation, according to an interview with the Australian Financial Review.

BNN Bloomberg21:13 ET