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. See our updated Privacy Policy here.

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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
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
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/AkE7bFRWAt
  • $GBPUSD continues to trade in ranges as volatility dwindles. UK data to play second fiddle to FOMC. Get your market update from @JMcQueenFX here: https://t.co/T0Eg4KaENB https://t.co/GMmZa5L0Il
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/wlGgQrcK3X
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/qnQ8Cx0DKv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/RJLpBgS43V
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/6GrWzkOouM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lIUxpfSem3
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/8kBulRFd6l
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/6u52PuzIaY
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/rHDy0XNZjQ
Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment

Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment

Brendan Fagan,

Australian Jobs Data Talking Points:

  • For the month of March, Australia adds 70,700 jobs against an expectation of 35,000 jobs
  • AUD/USD declined in immediate trade, following the impressive March jobs data
  • The official unemployment rate fell to 5.6%, against a consensus of 5.7%
Advertisement

Australia posted strong employment numbers for March, with headline unemployment falling to 5.6%. Australia added 70,700 jobs in the month of March, which boosted overall labor force participation to 66.3%. Of note, part-time employment increased by 91,100, while full-time employment decreased by 20,800. The notable decline in full-time employment will be of great concern to the RBA, which has been monitoring employment changes closely. Changes in the labor force have been under so much scrutiny that the RBA even mentioned full-time employment data in its February statement.

Australian Jobs Data

Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment

Source: Australian Bureau of Statistics

Australia is experiencing a robust recovery from the COVID-induced recession. Business and consumer confidence metrics continue to shine while wages grow and employment data rebounds. Given the swift recovery, the RBA has maintained its monetary policy stance, stating that the “economic recovery is well underway, stronger than had been expected.”

AUD/USD has been battling a mix of headwinds and tailwinds recently as outperformance has ground to a halt. Additional lockdowns in Australia coupled with a slower than expected rollout of COVID vaccines may potentially cap AUD gains in the near term, despite an improving economy. However, should AUD/USD break beyond a significant resistance level at 0.7800, a run back towards 0.8000 may be on the cards. Any headwinds for the Australian Dollar may see the currency fall back and test its 50-day EMA, which currently sits at 0.7676.

AUD/USD 5 Minute Chart

Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment

Chart created with TradingView

RBA Governor Phillip Lowe has also gone on record recently stating the RBA’s employment and inflation mandate will not be satisfied until 2024 at the earliest. March minutes from the RBA revealed an increased focus on inflation, with policymakers stating that wage growth would need to rise significantly from current levels in order to cause an uptick in inflation. Given the distance from its end goals, the RBA has reiterated that “very significant” monetary support is required for the foreseeable future.

--- Written by Brendan Fagan, Intern for DailyFX

To contact Brendan, use the comments section below or @BrendanFaganFX on Twitter

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

DISCLOSURES