In the US, Unemployment Claims, monthly indicator to value the unemployment insurance that was filed on the last week, is predicted to drop down from 377K to 373K this week.

The US dollar weakened against most major currencies following Bernanke’s announcement that  interest rates will likely remain near zero until late 2014. However, the global slowdown has taken its toll on the Australian export sector, and the aussie may run out of steam as a result.

In the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President, is about to speak in Atlanta.

Updates: The Australian dollar was hit by a weak retail sales report – sales didn’t grow during the previous month. After the initial fall, AUD/USD rose on European strength and reconquered 1.02. The Australian dollar enjoyed a leap of 8.4% in building approval – more than expected. Also the high Chinese trade balance surplus helps.

In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, measures the number of employed people over the last month (without government & farming industry), rise is expected from 110K on October up to 131K.

The moderate rise in prices leaves room for a rate cut that will weaken the Aussie. On the other hand, the fresh signs of strength from China helped the Australian dollar. We have more data from China alongside Australian data.

The big blow for the Aussie came from Ben Bernanke’s twist. As a risk currency that is also dependent on commodities, the Aussie was hit bad. Also Chinese weakness didn’t really help.

The assumption about no new QE in the US hurt the Aussie, but when markets changed their mind, things turned for the better in AUD/USD. The Australian dollar got a boost from a better-than-expected number in China – HSBC’s PMI came out better than expected. We’ll now get the official release.

The main drivers of the Australian dollar were fresh quarterly inflation figures. Rising prices mean that rates hikes could come much sooner than expected. Will it be as early as now?

In the US, The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI), Survey (around 400 managers) to value the business conditions over the passing month, about to reduce by 0.3 points from last month to 55 points. And the ISM Manufacturing Prices is due to further reduce to 64.4 points.