Australia’s unemployment rate has come in much better than expected at 5.7%. Forecast was 6%. Employment rose +40,600, much much more than the expected figure of -10,000. AUDUSD flies to above 90c, up 70 pips in a matter of seconds.
The talk in the market is of quite heavy selling interest towards .9000 from big players out of the middle east. Quite heavy selling was seen in London overnight around .8950, thought to be option related. Dealers also expect to … Continue reading
The RBA has lifted rates from 3% to 3.25% and has warned of more to come. Governor GlennStevens has told the media, that the global economy is resuming growth and that economic policy settings likely to remain expansionary for some … Continue reading
The worse than expected Australian trade deficit has done little to move the AUDUSD which remains bid at the top of the recent range. Forecast was was a deficit of A$850 Mln but the number came in at A$-1524 Mln. … Continue reading
Surely waiting another month, especially a month like October with it’s dangerous history for stock markets, would not make much difference. Or wait until the New Year when the recovery is entrenched by 12 months and then hike by 50bps … Continue reading
It has been a very quiet session in NY overnight but the USD has continued to drift lower. AUD and NZD are opening in Asia close to their highs and with many now expecting the RBA to hike rates by … Continue reading
With Australian and Chinese markets closed, liquidity is markedly down and the AUD/USD has gained almost a cent on the day after various commentators emerged to throw their tuppence-happenny worth into the interest rate debate. The Australian Financial Review and … Continue reading