News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
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
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Breaking news

Pfizer cut 2020 vaccine rollout by a half to 50million

Real Time News
  • 6 out of 11 S&P 500 sectors closed in the green, with 57.2% of the companies ending higher on Thursday. Energy (+1.07%) and real estate (+0.73%) were doing the heavy lifting, whereas utilities (-1.10%), materials (-0.68%) and communication services (-0.40%) were lagging behind. https://t.co/MHYVLu7N8m
  • The bearish implications of a 'Death Cross' in my majors-based #USD index is finally seeing follow-through on the weekly setting following the drop under rising support from 2014. This has exposed lows from 2018. Learn more about moving averages here - https://www.dailyfx.com/education/technical-analysis-tools/moving-average.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aO8IPBZPal
  • USD/CAD rates have just fallen to fresh yearly lows, and in the process may be setting up a test of a key longer-term Fibonacci retracement in the coming sessions. Get your $USDCAD market update from @CVecchioFX here:https://t.co/0HvhiclGM6 https://t.co/4UIV5j9ZFD
  • Moderna Study Shows Vaccine Has Potential For Durable Immunity - BBG
  • The Dow Jones capped off November with a strong finish and wades narrowly beneath all-time highs. Get your #equities market update from @PeterHanksFX here: https://t.co/FFwhDM3A8E https://t.co/7pgGhriMlh
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.64% 🇯🇵JPY: 0.55% 🇨🇭CHF: 0.43% 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.27% 🇳🇿NZD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pfY41C6lft
  • #CrudeOil prices look poised to move higher as buyers begin to probe resistance at the 61.8% Fib extension (45.91) A daily close above $46 may signal the resumption of the uptrend extending from the November low and bring psychological resistance at $50 into focus #OOTT $CL https://t.co/S8CX5oSxs8
  • $USDCAD eyeing key support at the October 2018 low (1.2783) after collapsing through range support at 1.2930 - 1.2950 Further losses look in the offing as the RSI breaks its 6-month uptrend and gears up to register its first oversold readings since June $CAD #technicalanalysis https://t.co/XvsVB2pPbU
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.55% Oil - US Crude: 0.04% Silver: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zwJRHqycl6
  • The #Euro breakout has already extended into initial resistance objectives and while the immediate rally may be vulnerable here near-term. Get your $EURUSD market update from @MBForex here:https://t.co/9uBqmz2607 https://t.co/Ant5iKaR9H
Australian Dollar Jumps On Job Report Smash, Gains Likely Fragile

Australian Dollar Jumps On Job Report Smash, Gains Likely Fragile

2018-09-13 01:59:00
David Cottle, Analyst
Share:

Australian Dollar, Employment Data Talking Points:

  • Australia’s job creation shattered forecasts for August
  • Employment rose by 44,000, much of it full time
  • The Australian Dollar gained but those gains may not last

Join our analysts for live, interactive coverage of all the economic data which move the Australian Dollar at the DailyFX Webinars. We’d love to have your take.

The Australian Dollar rose sharply Thursday in the wake of official employment data whose headlines smashed expectations.

They showed that 44,000 Australians found jobs in August. That was much more than the already pretty-strong 18,000 which markets were looking for. Even better for Australian Dollar bulls, the lion’s share of these (33,700) were in full time positions. Meanwhile 10,200 part-time vacancies were also filled.

This news was cheered understandably by AUD bulls, even though the unemployment rate remained steady at 5.3% and the overall participation rate only edged up, to 65.6% from 65.5% in July.

Gains fading already. Australian Dollar Vs US Dollar, 5-Minute Chart

The Australian economy is not doing at all badly by many counts, of which these data are just the latest. Official growth numbers released last week were very strong too.

However, inflation remains stickily low and consumer debt extremely high. The Reserve Bank of Australia is also worried about the prospect of a US/China trade war given Australia’s close economic and political ties to both main actors. The prospect glowers over all commodity currencies, linked as they are to the global growth cycle.

In short the remorseless hammering AUD/USD has seen for most of this year is most unlikely to reverse anytime soon despite plentiful domestic economic cheer.

Still, on its daily chart AUD/USD has staged a modest bounce from this week’s three-year lows. But the backdrop remains overwhelmingly gloomy with interest-rate differentials squarely in the greenback’s favor and likely to stay that way. Australian rates remain at the record lows they’ve been at since August, 2016 and futures markets don’t fully price even a single, quarter percentage point rise for this year and all of next.

Strategic Downtrend Endures. Australian Dollar Vs US Dollar, Daily Chart

The big question for Australian Dollar investors as we head into year-end will be whether the economic numbers can stay as good as they have been. AUD/USD price actions suggests that the markets’ answer to that question for the moment is ‘no.’

RESOURCES FOR TRADERS

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES