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15 Apr 2015
AUD/USD: Getting prepared for the jobs report in Aus
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7674 with a high of0.7702 and a low of 0.7570.
AUD/USD has rallied, as with the greenback losing traction across the board, the major commodity currency is taking full advantage while oil surges on to test $56.00 and Gold hovers close to highs scored recently at the $1,205 mark. The Beige book was released, but wasn't the catalyst for dollar weakness today and instead gave a modest review of the US economy noting that there were factors such as a stronger dollar, oil prices and bad weather, while the jobs market remains stable.
The Aussie is starting to tail off some time after the release now and markets will be getting lined up ahead of the key jobs report later today in the Asian shift from the Australian economy. The key take away will be the participation rate and whether there has been a lackluster performance in the headline numbers where the RBA will be monitoring performances in this sector closely in respect of the policy decision in May at their next meeting. Technically, the pair is in a bearish formation while below the 0.8034 early January low.
AUD/USD has rallied, as with the greenback losing traction across the board, the major commodity currency is taking full advantage while oil surges on to test $56.00 and Gold hovers close to highs scored recently at the $1,205 mark. The Beige book was released, but wasn't the catalyst for dollar weakness today and instead gave a modest review of the US economy noting that there were factors such as a stronger dollar, oil prices and bad weather, while the jobs market remains stable.
The Aussie is starting to tail off some time after the release now and markets will be getting lined up ahead of the key jobs report later today in the Asian shift from the Australian economy. The key take away will be the participation rate and whether there has been a lackluster performance in the headline numbers where the RBA will be monitoring performances in this sector closely in respect of the policy decision in May at their next meeting. Technically, the pair is in a bearish formation while below the 0.8034 early January low.