AU jobs fail to inspire AUD
City Index September 11, 2014 2:38 PM
<p>The AUD failed to sustain a move above 0.9200 following very strong jobs data overnight. The Australian unemployment rate fell to a 12-year low of […]</p>
The AUD failed to sustain a move above 0.9200 following very strong jobs data overnight. The Australian unemployment rate fell to a 12-year low of 6.1%, from 6.4% in July, as employment increased by 121,000 versus the 15,000 that had been the consensus expectation, as the part time component made up the majority of the gains at 106,700. The report was so strong that it prompted a comment from the Australian Bureau of Statistics that said the data had been ‘extensively checked’. The NZD traded in stark contrast to its antipodean neighbour following the RBNZ meeting that remained unchanged. The statement was deemed to be bearish with comments like ‘a period of monitoring and assessment before considering further policy adjustment’. The RBNZ again views the current level of the NZD as ‘unjustified and unsustainable’.
USD/JPY briefly traded on the 107 handle following the first meeting between BoJ Governor Kuroda and PM Abe in five months, as the central banker told the politician that he will do his utmost to achieve the inflation target, adding that he will not hesitate to act if the goal is at risk.
The Scottish independence saga continued with the new Survation Scottish referendum poll revealing a 53% ‘no’ vote against 47% for ‘yes’ for Scottish independence.
On the data front today in Europe we get inflation readings in Germany and France, as the US brings us weekly jobless claims data.
Supports 1.2900-1.2860-1.2820 | Resistance 1.2985-1.3000-1.3050
Supports 106.55-106.10-105.80 | Resistance 107.10-107.55-107.95
Supports 1.6100-1.6060-1.6000 | Resistance 1.6265-1.6300-1.6340
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.