- Australian economy sheds 6,300 jobs; unemployment rate rises to 5.3% from 5.2%
- Japan’s machinery orders fall more than expected
- RBNZ leaves New Zealand’s rates unchanged at 2.5%; poll sees rates at 3% by end 2012
- Bank of Korea leaves rates unchanged
- Regional stockmarkets -1% on average
- Gold $1741/oz, Oil $100.50/bbl
The Aussie has again been the most volatile of the G10 currencies, trading in a 70 pip range after disappointing jobs data. Rumours in the market had suggested that the unemployment number might be a pleasant surprise but the opposite was in fact the case. AUD/USD traded near 1.0280 for most of the morning but then fell down to test short-term support levels at 1.0230 after the poor number. Support levels held and the pair has idled at mid-range levels since then. Ranges: 1.0229/99
EUR/USD has been very quiet again, ahead of some major risk events. The pair opened in Asia near 1.3400 for the 4th successive day and hasn’t look likely to move too far away from there as traders avoid it ahead of the ECB and the EU summit. The only pair of interest in the crosses was EUR/AUD, where technical support at 1.3020 continues to hold. Ranges: 1.3389/1.3421.
USD/JPY 77.57/69; Cable 1.5690/1.5715; USD/CHF .9226/53.
