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12 Sep 2013
Australian jobs next: Impact on the AUD/USD
FXstreet.com (Barcelona) - The market awaits the key Australia’s Labour Force data at 1.30GMT, an event that may represent either a break above the formidable 0.9350 resistance in AUD/USD or a return back below 0.93.
As NAB notes: "The event will clarify perceptions towards the RBA’s likely policy course ahead, with a rate cut pricing currently about 40% by Q1 2014 and 25% by Nov this year."
Ahead of the report, there has been some chatter about the data being better-than-expected.
">NAB has also supported the notion for a strong jobs report, with the latest price activity in the AUD/USD, giving try towards 0.9050 ahead of the report, confirming there might be some true on the upbeat jobs talk.
According to Adam Button from Forexlive: "If the report is stronger than expected (10K jobs and 5.8% unemployment is the consensus) and AUD/USD doesn’t rally, it could signal a near-term top. However, AUD is most likely to embark on an extended rally because speculators are heavily short AUD."
As NAB notes: "The event will clarify perceptions towards the RBA’s likely policy course ahead, with a rate cut pricing currently about 40% by Q1 2014 and 25% by Nov this year."
Ahead of the report, there has been some chatter about the data being better-than-expected.
">NAB has also supported the notion for a strong jobs report, with the latest price activity in the AUD/USD, giving try towards 0.9050 ahead of the report, confirming there might be some true on the upbeat jobs talk.
According to Adam Button from Forexlive: "If the report is stronger than expected (10K jobs and 5.8% unemployment is the consensus) and AUD/USD doesn’t rally, it could signal a near-term top. However, AUD is most likely to embark on an extended rally because speculators are heavily short AUD."