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
EUR/USD
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
Oil - US Crude
Mixed
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
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
Mixed
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
Mixed
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
  • The #USD spent the bulk of Q2 in a range after a climactic Q1; and with a series of risk themes continuing to push, combined with an election in November, the door appears open for more vol in USD. Download our USD trading guide here: https://t.co/2Wo7EcwAht https://t.co/BA5dWk4wTt
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/OTTEmg76W8
  • The immediate focus is on a break of this multi-week consolidation formation in the Australian Dollar with the broader rally vulnerable while below 7042. Get your AUD technical analysis here: https://t.co/iEYos1ioBc https://t.co/kuzB3Eqps0
  • #Gold prices have rallied to nine-year highs with the breakout testing multi-year uptrend resistance into the open of Q3. Can the rally be sustained? Download our latest Gold trading guide!: https://t.co/3KO2QWOnOt https://t.co/YIIGZdeIAJ
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/zerRXZC1Tq
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkd4B0k https://t.co/uj93z2SHpH
  • The Australian Dollar’s surge from the March lows may be coming to an end as bearish patterns begin to line up on multiple time-frames. Check out our #AUD trading guide to learn more here: https://t.co/pjfm07tqFd https://t.co/VypHLra1ER
  • The Evening Star candlestick is a three-candle pattern that signals a reversal in the market and is commonly used to trade forex. Learn more about the evening star candlestick pattern here: https://t.co/8OTE7m01IG https://t.co/Vumcng7UB3
  • After a miraculous recovery in Q2, equity markets will be left juggling the Fed’s policy and the threat of a second covid wave, all in an election year. Evidently, traders will have their hands full in Q3. Read our equity forecast here: https://t.co/JARqbOKIeM https://t.co/Ms6zEucjqg
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/uvlv1MCAHI
Australian Dollar Gains Sharply As Job Creation Smashes Forecasts

Australian Dollar Gains Sharply As Job Creation Smashes Forecasts

2019-08-15 01:28:00
David Cottle, Analyst
Share:

Australian Dollar, Labor Market Data Talking Points:

  • Overall job gains were well ahead of forecasts last month
  • Full-time positions also rose ahead of consensus
  • Given RBA focus on this data it seems likely that aggressive rate-cut forecasts could be pared

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you along.

The Australian Dollar rose Thursday on news that its homeland’s formidable job-creation machine continues to fire.

Overall job creation was an impressive 41,000 in July according to official data, well above the 14,000 new posts which the market has expected. Full-time employment rose by a chunky 34,500 with part time positions up by 6,700. The unemployment rate remained steady at 5.2%, however.

The Reserve Bank of Australia is known to be watching this series especially closely now with monetary policy settings in mind, and this clear evidence that Australia is still hiring is likely to see some of the more aggressive forecasts for lower interest rates pared back a little.

AUDUSD certainly made gains on the release, powering up to a new session high.

Australian Dollar Vs US Dollar, 5-minute Chart

On its daily chart the Australian Dollar is still close to the eleven-year low hit on August 7 against its big US brother. A mix negatives continues to hit the currency. General risk aversion and worries about global growth create obviousproblems for the pro-cyclical Aussie. Then there was the Reserve Bank of New Zealand’s surprise chunky half-percentage-point interest rate cut earlier this month. It saw investors price in similarly-sized reductions in Australia, when before only a single further reduction was expected.

Given this it’s no wonder that the Aussie should be under pressure.

Australian Dollar Vs US Dollar, Daily Chart

Signs that Washington and Beijing are making some progress on trade would be the key risk appetite spur about now, but they don’t seem likely in the near term, with Chinese officials reportedly pessimistic about the chance of progress when they head to the US next month.

Moreover, for as long as the Aussie is perceived to suffer from such a complete lack of domestic monetary support it will be very hard to get bullish on it for long.

Australian Dollar 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

News & Analysis at your fingertips.