AU jobs fail to inspire AUD

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.

EUR/USD

Supports 1.2900-1.2860-1.2820  | Resistance 1.2985-1.3000-1.3050

USD/JPY

Supports 106.55-106.10-105.80  | Resistance 107.10-107.55-107.95

GBP/USD

Supports 1.6100-1.6060-1.6000  | Resistance 1.6265-1.6300-1.6340