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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
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
Gold
Bearish
Low
High
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
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
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
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/9CV6iZt40j
  • My weekend trading video: 'S&P 500 Rises on Trump China Presser, #NFPs and Rate Decisions Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/30/SP-500-Rises-on-Trump-China-Presser-NFPs-and-Rate-Decisions-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/ZvoGoibzj1
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/gngm5tKqjz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/iL7xlHLBiF
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
  • The AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/Fo1wlWyz8r
  • 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 #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/4ofHIpGiTm
  • Trump says he needs to see a strong study on China's actions surrounding virus - BBG
  • The Dollar Index has broken below a multi-week consolidation / the May opening-range lows and keeps the focus lower heading into June. Get your $USD technical analysis from @MBForex here: https://t.co/hkm3nIoyeh https://t.co/SzMeNFyPyp
  • RT @fxmacro: COVIDView: A Weekly Surveillance Summary of U.S. COVID-19 Activity | CDC https://t.co/Gtr0sUoyft
Australian Dollar Little Changed by a Lackluster Jobs Report

Australian Dollar Little Changed by a Lackluster Jobs Report

2016-05-19 02:34:00
Daniel Dubrovsky, Analyst
Share:

Talking Points

  • AUD/USD little changed after Australia’s jobs report crossed the wires
  • Economy added 10.8k employees in April versus 12.0k expected
  • DailyFX SSI remains net-long, implying further AUD/USD weakness

Having trouble trading the Australian Dollar? This may be why.

The Australian Dollar showed a tepid response against its major counterparts after Australia's employment report crossed the wires. The data showed10,800 jobs were added in April, which was worse than the 12,000 gain expected. The prior figures were revised lower from a 26,100 position increase to a 25,700gain.

Most of the jobs added were in part-time roles increasing by 20,200 positions. Meanwhile, full-time jobs contracted by 9,300 workers. The unemployment rate beat the 5.8 percent forecast, remaining at 5.7% which is the lowest level since September 2013. The labor force participation fell to 64.8% in April from 64.9% in March, lower than the 64.9% expectations. In other words, fewer people were left without a job, but more people left the labor force all together.

Earlier this week, the Reserve Bank of Australia released the minutes from the May monetary policy announcement. The document revealed that the central bank was close to opting against a cut and decided to proceed somewhat halfheartedly. Overnight index swaps are now pricing in an 11 percent probability that the RBA will cut rates in June, down from 20% last week.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing a reading of 2.0 following the announcement, meaning that for every trader short the AUD/USD, there are 2.0 on the long side. The SSI is a contrarian indicator, implying further AUD/USD weakness ahead.

Want to learn more about the DailyFX SSI indicator? Click here to watch a tutorial.

Australian Dollar Little Changed by a Lackluster Jobs ReportAustralian Dollar Little Changed by a Lackluster Jobs Report

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

DISCLOSURES

News & Analysis at your fingertips.