Back
11 Sep 2014
AUD/USD regains 0.92 after 'eye popping' Aus jobs
FXStreet (Bali) - AUD/USD has seen a major spike to currently stay above the 0.92 handle after an 'eye popping' 121k jobs creted in Aug vs 15k exp, the jobless rate improving to 6.1% vs 6.3% exp, with fulltime employment jobs at 14,300 vs 14,500 last and part time jobs at 97,700 vs -14,800. The participation rate was 65.2% vs 64.8% exp.
From the ABS: "A strong increase in the seasonally adjusted estimate of employment contributed to Australia's unemployment rate decreasing 0.3 percentage points to 6.1% in August 2014 (seasonally adjusted). This follows a comparable increase in the unemployment rate in July. The number of unemployed decreased by 33,500 to 755,100 in August 2014 following an increase of 41,800 in July 2014 (seasonally adjusted). In trend terms the number of unemployed persons in August 2014 increased by 8,000 to 764,100 and the unemployment rate was 6.2%. Because of the unusually strong increase in employment estimates, the ABS has extensively checked the data."
Technically, if bulls manage to regain the 0.92 round number and consolidate above, the prospects for further gain heading into London would be fairly good, with the next resistance coming at 0.9440 (double bottom Aug), ahead of 0.9260/70. On the downside, 0.92 is first support followed by 0.9160/65 and recent lows.
From the ABS: "A strong increase in the seasonally adjusted estimate of employment contributed to Australia's unemployment rate decreasing 0.3 percentage points to 6.1% in August 2014 (seasonally adjusted). This follows a comparable increase in the unemployment rate in July. The number of unemployed decreased by 33,500 to 755,100 in August 2014 following an increase of 41,800 in July 2014 (seasonally adjusted). In trend terms the number of unemployed persons in August 2014 increased by 8,000 to 764,100 and the unemployment rate was 6.2%. Because of the unusually strong increase in employment estimates, the ABS has extensively checked the data."
Technically, if bulls manage to regain the 0.92 round number and consolidate above, the prospects for further gain heading into London would be fairly good, with the next resistance coming at 0.9440 (double bottom Aug), ahead of 0.9260/70. On the downside, 0.92 is first support followed by 0.9160/65 and recent lows.