5 Jun 2015
AUD/USD: Awaits Nonfarm Payrolls and static
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7684 with a high of 0.7781 and a low of 0.7663.
AUD/USD is unchanged form overnight trade as we move over to Asia in the early hours, while the major remains in a static environment, nervous around the forthcoming Nonfarm Payrolls in the US shift tonight. The downside was extended below yesterday's lows in Europe and the US and the bears take control having penetrated down through the 0.77 handle and onwards threatening a test of the mid point of 0.76 with eyes on April lows at 0.7534.
The bearish trend started from the 0.7812 peak of the June rally and the extension came on the back of the trade figures yesterday and retail sales missing expectations. Retails were down to 0.0% vs 0/45 expected while Trade came as a huge -3,888m vs -2,250m and worst deficit since 1995. Today we have AiG Performance of Construction Index (May) ahead of the Nonfarm Payrolls in the US.
The major had been performing strongly on the back of the RBA leaving rates on hold recently accompanied with GDP Q1 beating expectations. Technically, Karen Jones, chief analyst at Commerzbank explained that beyond the April lows at 0.7534 lies the base of the 2 year down channel at 0.7390.
Coverage of Nonfarm Payrolls:
Tonight, you can follow all of the action with us here.
AUD/USD is unchanged form overnight trade as we move over to Asia in the early hours, while the major remains in a static environment, nervous around the forthcoming Nonfarm Payrolls in the US shift tonight. The downside was extended below yesterday's lows in Europe and the US and the bears take control having penetrated down through the 0.77 handle and onwards threatening a test of the mid point of 0.76 with eyes on April lows at 0.7534.
The bearish trend started from the 0.7812 peak of the June rally and the extension came on the back of the trade figures yesterday and retail sales missing expectations. Retails were down to 0.0% vs 0/45 expected while Trade came as a huge -3,888m vs -2,250m and worst deficit since 1995. Today we have AiG Performance of Construction Index (May) ahead of the Nonfarm Payrolls in the US.
The major had been performing strongly on the back of the RBA leaving rates on hold recently accompanied with GDP Q1 beating expectations. Technically, Karen Jones, chief analyst at Commerzbank explained that beyond the April lows at 0.7534 lies the base of the 2 year down channel at 0.7390.
Coverage of Nonfarm Payrolls:
Tonight, you can follow all of the action with us here.