9 Jul 2015
AUD/USD trips stops topside post Aus jobs
FXStreet (Bali) - http://www.fxstreet.com/analysis/technical-analysis-forex/ has risen to a session high of 0.7476 following better-than-expected Australian employment figures, with the rate initially being rejected off topside offers to test 0.74 vicinity, but skyrocketing from there as sentiment improves.
Australian jobs excuse to trip stops
Australian employment change for June came at 7.3k vs -5k expected and 42k last. Full time employment was 24.5k vs 14.7 last, while part-time stood at -17.2k vs 27.3k last. The jobless rate was flat at 6% vs 6.1% exp. Participation rate was 64.8% vs 64.7% prior.
China, Greece, Iron ore influencing AUD
Improved Australian jobs, coupled with the rebound on Shanghai equities (currently -1.4%) following a gloomy first opening minutes, in which shares were down more than 3%, and iron ore sellers (down 10% Wed) being squeezed, all has helped to promote a much-needed relief rally for the Aussie. However, on the big scheme of things, Greece remains the core risk that is likely to maintain participants cautious (an environemnt that favour bids on USD, JPY) ahead of Sunday, where a last make-or-break EU summit to determine Greece's fate in or out of the Eurozone will take place on Sunday.
Australian jobs excuse to trip stops
Australian employment change for June came at 7.3k vs -5k expected and 42k last. Full time employment was 24.5k vs 14.7 last, while part-time stood at -17.2k vs 27.3k last. The jobless rate was flat at 6% vs 6.1% exp. Participation rate was 64.8% vs 64.7% prior.
China, Greece, Iron ore influencing AUD
Improved Australian jobs, coupled with the rebound on Shanghai equities (currently -1.4%) following a gloomy first opening minutes, in which shares were down more than 3%, and iron ore sellers (down 10% Wed) being squeezed, all has helped to promote a much-needed relief rally for the Aussie. However, on the big scheme of things, Greece remains the core risk that is likely to maintain participants cautious (an environemnt that favour bids on USD, JPY) ahead of Sunday, where a last make-or-break EU summit to determine Greece's fate in or out of the Eurozone will take place on Sunday.