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
More View more
Real Time News
  • How does stock market liquidity benefit its traders? Learn more here: https://t.co/FWKyIDUwAw https://t.co/tyoYrsh8mQ
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/4078fnQJON
  • 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/kIIBffEMi7 https://t.co/tt59BU8lnS
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here: https://t.co/NOCqjJ3TLd https://t.co/HR5xUZeJXp
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.https://t.co/fG6fNEPj9q https://t.co/ymGaYjrl1g
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/FOMcsxci50
  • Further your trading knowledge and gain informed market analyses from our expert analyst @DavidJSong on Oil with our free Q4 guide, available for free today.https://t.co/Y6XECmr5fQ https://t.co/XQI3PN4bkQ
  • Nasdaq 100 may hit new high soon. https://t.co/ACtVqiOBl0
  • HSTECH index has likely formed an "Inverse Head & Shoulders" pattern. https://t.co/YFIQEYmuyq
  • The HSI has likely formed a “Double Bottom” chart pattern, which is usually viewed as bullish-biased. https://t.co/wMQ14A867Q
AUD/USD Points Higher Despite Mixed Employment Data

AUD/USD Points Higher Despite Mixed Employment Data

Brendan Fagan,

AUD/USD, Australian Employment, Reserve Bank of Australia, Covid – Talking Points

  • Australia sees job losses of 138,000 in September, missing estimates of -110k
  • Sydney begins to ease lockdowns, hinting at a return to normal for Australia
  • Australian unemployment rate rises from 4.5% to 4.6%, expectation was 4.8%

Australian employment data for September came in mixed as the country looks to put the coronavirus pandemic in the rearview mirror. While unemployment ticked higher to 4.6%, it still managed to come in lower than the expected reading of 4.8%. The number of employed persons in the country fell by 138,000, slightly higher than the consensus estimate of -110,000. Labor force participation also decreased, falling 0.7% in September. The mixed report reflects the state of the country’s uneven recovery, with each state imposing its own lockdown measures and boasting varying vaccination rates.

Australian Labor Statistics

AUD/USD Points Higher Despite Mixed Employment Data

Courtesy of the Australian Bureau of Statistics

While Covid cases remain high, Australia appears to be returning to normal as Sydney lifts lockdowns and eases restrictions on citizens. The reopening remains territorial, with different states boasting varying inoculation rates. While New South Wales has 74% of people above the age of 16 fully vaccinated, neighboring Queensland lags well behind at just 52%. It would appear that Australia may experience a “staggered” return to normal as vaccination programs continue to gain steam.

AUD/USD Daily Chart

AUD/USD Points Higher Despite Mixed Employment Data

Chart created with TradingView

The Australian Dollar has performed well against the Greenback of late, as higher inflation and rising energy prices boost the Aussie. These catalysts have helped shrug off the dovish nature of the RBA, which has indicated its willingness to remain accommodative for the foreseeable future. With lockdowns easing and energy prices remaining firm, the fundamental outlook for the Aussie-Dollar cross remains constructive. Should additional gains materialize, market participants may look to 0.7400 as the next major hurdle.

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Brendan Fagan, Intern

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