Aussie defies gravity

16 April, 2015

The big stand out from last night was the Aussie which has spiked on the back of a much unexpected decline in unemployment. AUDUSD is now back in the mid 0.7700 area marking a two week high as the Australian economy created more than double the amount of jobs expected in March and February’s rise was revised upwards almost threefold. The Aussie has also benefitted from strength in commodities as crude prices have also spiked on the back of a drop in US production and oil stocks. A number of traders are becoming more bullish on oil now that it has broken to fresh highs for the year and risen as much as 35% since January and March lows. For now in AUDUSD seems to be firmly supported above the 0.7550 level. Despite a slowing China and depressed iron ore prices the Aussie remains reluctant to head lower for now.

Today the economic calendar is quite quiet again but the focus will be on US data in the form of housing starts, the weekly initial jobless claims and Phili Fed survey.


Source link  
USD Rallies

Last Friday US non-farm payrolls for March rose by only 98K, which was far below expectations of 180K, marking...

How Will FOMC Minutes Affect USD?

The dollar index hit a 3-week high of 100.59 yesterday. However, it pulled back after testing the near-term major resistance...

EUR/GBP Bulls Retreat Under Resistance

The European Central Bank president Draghi will make a speech at 15:30 BST today...


Second Scottish Referendum Hits GBP

Tuesday evening, March 28, the Scottish parliament has voted by 69 to 59, in favour of holding a second independence...

Brexit Flight: A Hard or Soft Landing?

UK Prime Minister Theresa May will trigger Article 50 of the Lisbon treaty on Wednesday March 29, starting the 2-year Brexit negotiation...

Dollar Tumbles on Trump Uncertainty

USD plunged on Tuesday breaking the significant support line at 100.00 and further testing the next major support at 99.50...


Can Gold Hold Above Near Term Major Support?

Spot gold hit the lowest level of 1194.91 since 31st Jan on 10th, and rebounded as the zone between 1195 – 1197 is the near term major support zone...

Will Yellen Give a More Hawkish Outlook ?

The Fed will announce its interest rate decision and monetary policies, at 18:00 GMT today. Later, the FOMC press conference will be held at 18:30 GMT...

Can Supreme Court Ruling Help GBP?

Tomorrow, Tuesday 24 January, around 09:30 GMT, the UK Supreme Court will release...

  


Share: