#OPINIONLEADER# Morning market update 19 08 2021: The FOMC Meeting Minutes indicated that there is a focus on beginning tapering this year although the next NFP number with another strong figure key for a decision on tapering to be finalised. The DXY pushed over 93.20 and looks as though the pressure is mounting on something to be done sooner rather than later. An additional point to consider is the delta variant and how that is going to affect the economy, which seems to be a concern with the FOMC due to the recent increase in case numbers in the US. For today the AUD has Employment Change (July), Full Employment Change (July) and the Unemployment Rate (July) which will be a significant catalyst for more selling if we see a miss on expectations considering where the AUDUSD sits below 0.7250. The US has the Initial Jobless Claims, Philadelphia Fed Manufacturing Index (August) and the Philly Fed Employment (August) offering a catalyst to push the DXY higher if Initial Jobless Claims are lower indicating less demand for government assistance for the unemployed.
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