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Trading news
7 Feb 2013
Forex: AUD/USD unch in response to mixed AU jobs data; biased lower
Mixed reaction from AUD/USD to Australian jobs data, as the unemployment rate unexpectedly remains unchanged at 5.4%, when a rise to 5.5% was expected, and +10400 new more jobs were added to the economy, even though -9800 full time jobs were lost. Thus Aussie remains at same quote previous to the news at 1.0319 last, topping at 1.0334, and printing a low at 1.0309.
Participation rate fell to 65% from 65.1% previous and expected, while NAB quarterly business confidence fell to -5, falling for fifth consecutive month, at lowest level since late 2009. With all, Aussie just printed fresh session lows at 1.0305, while local share markets also show a mixed view, with Australian ASX down by -0.12%. SP500 closed in NY practically flat at +0.05%.
Immediate support to the downside for AUD/USD lies at recent NY session and fresh 3-month lows 1.0296, followed by Nov 16 lows/Oct 05 highs at 1.0283/78, and Oct 23 lows at 1.0231. To the upside, closest resistance comes at NY session highs 1.0331, followed by Friday's lows at 1.0360, and Jan 28 lows at 1.0384.
Participation rate fell to 65% from 65.1% previous and expected, while NAB quarterly business confidence fell to -5, falling for fifth consecutive month, at lowest level since late 2009. With all, Aussie just printed fresh session lows at 1.0305, while local share markets also show a mixed view, with Australian ASX down by -0.12%. SP500 closed in NY practically flat at +0.05%.
Immediate support to the downside for AUD/USD lies at recent NY session and fresh 3-month lows 1.0296, followed by Nov 16 lows/Oct 05 highs at 1.0283/78, and Oct 23 lows at 1.0231. To the upside, closest resistance comes at NY session highs 1.0331, followed by Friday's lows at 1.0360, and Jan 28 lows at 1.0384.