- Australian economy adds 56,000 jobs against expectations of 19,000
- Unemployment rate falls back to 5.2% from 5.4% last month
- Japanese GDP slightly better than expected at +1.1% QoQ
- US 10-year yields fall back slightly after big gains in last 48 hours
- Regional bourses generally flat
- Gold +$5 to $1388/oz
The AUD/USD was the main mover today as some much stronger than expected jobs data gave the Aussie a lift. From .9785 prior to the numbers, the AUD/USD rallied immediately to .9840 where it stalled for a while before eventually pushing higher. The short-term market was caught short and liquidity remains very patchy. Ranges: AUD/USD .9778/.9883
USD/JPY couldn’t establish any bullish momentum despite the big moves over the last 2 days. Most of the signals today were bearish; corporate sellers close to the market above 94.25; US yields retreating from overnight highs; and a mildly USD bearish session all round. Ranges: USD/JPY 83.67/84.11, EUR/JPY 111.28/56
EUR/USD was primarily led by the moves in AUD/USD and USD/JPY plus the fact that trailing stops above 1.3285 proved too attractive to ignore. Well chronicled offers at 1.332o have stalled gains thus far. Ranges: EUR/USD 1.3244/1.3320
Sterling has had a fairly quiet session but it has given back some of its big overnight gains against the EUR and the JPY. Ranges: Cable 1.5790/1.5832, EUR/GBP .8386/.8416
