Australian bond traders have plenty to keep an eye on at home and abroad this week, according to institutional analysis. The Federal Reserve's FOMC is widely expected to start cutting interest rates this week, and it is the extent of the cut that is really at issue. A 50 basis point cut by the Fed could intensify attacks on hawkish rhetoric at the Reserve Bank of Australia, underlining its lagging behind a growing number of global central banks that are cutting interest rates. The Reserve Bank of Australia has recently been criticised for "damaging the economy" with high interest rates. On the domestic front, employment data for September will be released on Thursday. Economists expect jobs to rise steadily and the unemployment rate to fall to 4.1 per cent.