We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/vryqn4rRU4
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Oil - US Crude: -0.03% Silver: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/15QcnuOwHa
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.01% 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.05% 🇪🇺EUR: -0.13% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vPJr6TpvF6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in US 500 are at opposite extremes with 78.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xNfVZWeHaL
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/IhJHu2WCVZ
  • For those who argue a bullish case for stocks... Let me counter with a single chart of the gold to S&P 500 ratio. Looks to me like risk-reward favors bullion over equities. $XAU $GLD https://t.co/6qiSh8E0ht https://t.co/lKViSEnrMc
  • - Silver prices could pull back as negative RSI divergence shows slowing momentum - Copper prices have risen over 20 percent, are now trading above 17-year uptrend - Monthly perspective show the base metal has entered into a key compression zone https://www.dailyfx.com/forex/market_alert/2020/06/02/Silver--Copper-Prices-Enjoyed-a-Nice-Ride---Is-it-Time-to-Get-Off.html
  • What is it about a colorful Bloomberg Terminal that is so satisfying to look at? https://t.co/Qtv9wwQv75
  • I have finally found a way to express the social climate in San Francisco and the effects of peer pressure: https://t.co/yYFXFHG2Lb
  • The US Dollar, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop.Get your market update from @ZabelinDimitri here:https://t.co/L8cfAgVx94 https://t.co/vwChirq7SL
Aussie Spike was Short Lived After Firm Australia Job Data

Aussie Spike was Short Lived After Firm Australia Job Data

2013-12-12 02:13:00
Cheng Li,

Talking Point:

  • The Australia Employment Change came in at 21.0K vs. 10.0K Expected, -0.7% October
  • RBA interest rate expectations still do not see a 25bp hike over the next 12 months
  • US Dollar keeping the hawkish pressure on as investors weigh on Fed taper

AUD/USD surged Thursday morning in Sydney after the November Australia employment data reported a 21.0K increase in payrolls for November – materially better than the 10.0K expected and 1.1K recorded in October. The Aussie dollar advanced as much as 37 pips to 0.9080 after the data but soon erased those gains. Similar price action was observed elsewhere as AUD/JPY had an initial 35-pip run to 92.78 and EUR/AUD temporarily dropped 38 pips to 1.5224. The report echoed the encouraging fundamental lean of the Consumer Inflation Expectation gauge released earlier which that rose to 2.1% in December from 1.9% the previous month.

The better-than-expected Job data supports a pickup in Australian economic growth, which may eventually encourage the RBA to shift away from its rate cut regimes to an eventual hike. That hawkish interpretation, however, is struggling to take hold. The 12-month interest rate forecast still does not reflect a market forecast for at least one 25bp hike. With the RBNZ pricing in over 100 bps over the same period, the contrast is too remarkable to ignore.

Meanwhile, even non-carry currencies are gaining traction. The greenback specifically is being buoyed by expectations that the Fed will taper at one of its next two meetings – perhaps as early as the December 18 decision. So, even though the US yield is at a significant discount to its Australian counterpart, its bearing is significantly more ‘hawkish’.

Data at a Glance

- Australia Consumer Inflation Expectation: 2.1% in December, from 1.9% in November

- Australia Employment Change: 21.0K vs. 10.0K Expected, from -0.7K Prior. (Revised lower from 1.1K)

- Australia Unemployment Rate: 5.8% vs. 5.8% Expected, from 5.7% Prior.

- Australia Full-time Employment Change: 15.5Kin November, from -31.1K in October.(Revised lower from -27.9K)

- Australia Part-time Employment Change: 5.5Kin November, from 30.4K in October. (Revised higher from 28.9K)

- Australia Participation Rate: 64.8% vs. 64.8% Expected, from 64.8% Prior.

- Australia Credit Card Balances: $A48.9Bin October, from $A48.8B in September.

- Australia Credit Card Purchases: $A23.0Bin October, from $A22.0B in September.

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Aussie_Spike_was_Short_Lived_After_Firm_Australia_Job_Data_body_aussie_employment_change.png, Aussie Spike was Short Lived After Firm Australia Job DataAussie_Spike_was_Short_Lived_After_Firm_Australia_Job_Data_body_aussie_unemployment_rate.png, Aussie Spike was Short Lived After Firm Australia Job Data

AUD/USD 5-minute Chart: December 12, 2013

Aussie_Spike_was_Short_Lived_After_Firm_Australia_Job_Data_body_aud_job_data.png, Aussie Spike was Short Lived After Firm Australia Job Data

Chart created by Cheng Li using Marketscope 2.0

New to Forex? Watch this video

-- Written by Cheng Li, DailyFX Researcher. Feedback can be sent to instructor@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.