- Australian unemployment rate 5.1%; economy adds 39,000 jobs; participation rate rises
- UK retail sales rise attributed to improved weather
- UK manufacturing outlook improves slightly
- China delays bank capital control rules
- Fed’s Yellen: Economy still vulnerable
- Stockmarkets continue to recover with Kospi +2%, Nikkei +1.25%
- Gold $1623/oz, Oil 85.25/bbl
The AUD/USD opened at .9925, just below reportedly heavy sell orders near .9930, and the market didn’t have the momentum to challenge this level. It drifted gradually lower, trading .9895/.9925 before the jobs numbers. The very strong jobs data, including 45,000 new full-time positions, sent AUD/USD screaming higher before it settled down near .9960. Ranges: .9883/.9969
EUR/USD traded quietly through the morning in a 15 pip range with the market in a bit of a standoff; bulls were unwilling to buy too much after a 300 pip rally in a bear market; and bears were unwilling to sell with talk of heavy stops only 50 pips above the market. The strong Australian jobs data did improve risk sentiment and the subsequent EUR/JPY buying pushed the EUR/USD to session highs, but overall EUR interest was careful ahead of tonight’s Spanish debt auction. Ranges: 1.2562/85; EUR/JPY 99.53/88
USD/JPY was capped by corporate offers above 79.50 and underpinned by solid demand for the Yen crosses, resulting in the usual stalemate, 79.19/44
Cable 1.5465/95
