5 Dec 2014
AUD/USD moving into highly negative territory
FXStreet (Guatemala) - AUD/USD is trading at 0.8330, down -0.66% on the day, having posted a daily high at 0.8395 and low at 0.8320.
AUD/USD is supported on 0.8320 and consolidates the losses from the 0.84 handle this week that were extended post the release of the nonfarm payrolls. The pair has been put into highly negative territory as we approach the close for the week and move deeper into the end of the year with little left for markets to make judgement calls upon besides the FOMC showdown left.
This next meeting will particularly interesting as we are likely to have new forecasts. Especially on the back of this recent jobs report as the Federal Reserve has persistently under-estimated the improvements in the labor market (and over-estimated the increase in price pressures), as noticed by analysts at Brown Brothers Harriman. Fresh hints of tightening will weigh heavily on AUD/USS while there are developments of mind set in respect to the Australian economy and a requirement from the RBA to make a move beside simply jawboning the currency lower.
AUD/USD is supported on 0.8320 and consolidates the losses from the 0.84 handle this week that were extended post the release of the nonfarm payrolls. The pair has been put into highly negative territory as we approach the close for the week and move deeper into the end of the year with little left for markets to make judgement calls upon besides the FOMC showdown left.
This next meeting will particularly interesting as we are likely to have new forecasts. Especially on the back of this recent jobs report as the Federal Reserve has persistently under-estimated the improvements in the labor market (and over-estimated the increase in price pressures), as noticed by analysts at Brown Brothers Harriman. Fresh hints of tightening will weigh heavily on AUD/USS while there are developments of mind set in respect to the Australian economy and a requirement from the RBA to make a move beside simply jawboning the currency lower.