Aussie tumbles as jobless rate hits four-year high

12 September, 2013

The focus of the Asian session on Thursday was on the Antipodean currencies, which are the Australian dollar and New Zealand dollar, also known as the Aussie and the Kiwi.

The Aussie took a tumble after disappointing jobs data that brought Australia’s unemployment rate to a four-year high of 5.8 percent. The number of people employed fell 10,800 in August despite estimates for an increase by 10,000.

AUDUSD dropped to 92.61 U.S. cents at 1:31 p.m. in Sydney from a pre-data 93.42 cents as investors are now expecting the RBA will cut rates by the end of this year.

On the other hand, the New Zealand dollar shot up 70 pips after the Reserve Bank of New Zealand announced no change to the official cash rate. While his was widely expected the central bank’s statement was taken as more hawkish than previous by the market and this propelled the kiwi higher. NZDUSD jumped from $0.8080 to $0.8150.

The U.S. dollar was also weaker elsewhere, against the yen, euro and pound as investors are being cautious ahead of U.S. jobless claims data later today and next week’s FOMC meeting. Some are concerned whether the Fed will being tapering as soon as this month or will delay the move after disappointing U.S. jobs numbers from last Friday’s nonfarm payrolls.

As a result, the dollar was sold off, with USDJPY falling further away from Wednesday's high of 100.59 yen and reached as low as 99.38 yen this morning.

Against the euro, dollar remains lower today again,  as EURUSD traded a tight range between $1.3302 and $1.3323.

GBPUSD was steady at $1.5828 as traders await the Bank of England Governor Mark Carney who will talk about the U.K. economy later today.

Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625

Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...

Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

In the past 24 hours Bitcoin has gained 9.25% and reached $3851.80640321. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.0395% and is now at $1.1371. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 15.53% and is now at $105.029363737. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%