8 May 2014
Asia Recap: AUD soars on Aus jobs, China trade
FXStreet (Bali) - The Australian Dollar had a stellar performance in Asia, up almost 0.5% after a combo of positive data on Australian jobs and China trade figures.
AUD/USD began Asia threatening to break though 0.9320 support, but ultimately the level held and a strong Australian employment report, adding 14.2k jobs (All full-time) in April, with upward March revision and the jobless rate ticking lower to 5.8%, launching the rate to a session high of 0.9375. Strong Chinese trade numbers in April, with iron ore imports soaring to 24.2% y/y keeping the solid demand in the Aussie.
USD/JPY traded directionless at 101.84 with some options expires-related interest not helping the case for strong moves, which ended with a small range between 101.95 and 101.78. The Nikkei 225, despite rising 1.3% on the day, had little impact on the USD/JPY. The initial spike in the pair came as the Tokyo fixing saw Japanese bidding the pair but offers ahead of the next 102.00 round number contained any further progress.
NZD/USD consolidated its recent losses around 0.8650, with the strong rise in the Aussie providing some support to the Kiwi, although it still feels heavy after the abrupt turnaround from Wednesday, when RBNZ Wheeler threatened the market with future interventions on the Kiwi, while adding that further rate decision will factor in the level of the Kiwi.
The rest of G10 currencies traded in a small range, with the Euro still holding above 1.39 ahead of the ECB monetary policy decision.
Main headlines in Asia
Australian job gains outstrip expectations
AUD/USD makes higher highs on China's trade figures
UK: Rics Housing Price Balance 54.0% vs 57.0% prior
AUD/USD began Asia threatening to break though 0.9320 support, but ultimately the level held and a strong Australian employment report, adding 14.2k jobs (All full-time) in April, with upward March revision and the jobless rate ticking lower to 5.8%, launching the rate to a session high of 0.9375. Strong Chinese trade numbers in April, with iron ore imports soaring to 24.2% y/y keeping the solid demand in the Aussie.
USD/JPY traded directionless at 101.84 with some options expires-related interest not helping the case for strong moves, which ended with a small range between 101.95 and 101.78. The Nikkei 225, despite rising 1.3% on the day, had little impact on the USD/JPY. The initial spike in the pair came as the Tokyo fixing saw Japanese bidding the pair but offers ahead of the next 102.00 round number contained any further progress.
NZD/USD consolidated its recent losses around 0.8650, with the strong rise in the Aussie providing some support to the Kiwi, although it still feels heavy after the abrupt turnaround from Wednesday, when RBNZ Wheeler threatened the market with future interventions on the Kiwi, while adding that further rate decision will factor in the level of the Kiwi.
The rest of G10 currencies traded in a small range, with the Euro still holding above 1.39 ahead of the ECB monetary policy decision.
Main headlines in Asia
Australian job gains outstrip expectations
AUD/USD makes higher highs on China's trade figures
UK: Rics Housing Price Balance 54.0% vs 57.0% prior