7 May 2015
AUD/USD awaits key jobs Aussie report
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7968 with a high of 0.7976 and a low of 0.7966.
AUD/USD is steady in to Asia, with recent price action over the majority of the afternoon US session's trading in less than a 20 pip range. Meanwhile, we have some major data coming up in Australia later with the jobs report on its way ahead of the showdown for the week that will come in the form of the Nonfarm Payrolls on Friday.
The RBA recently cut rates, and while the reward is potentially, but likely marginally, bolstering growth in the economy, there are the risks over the medium term of pushing dwelling prices too high and potentially encouraging households to overleverage as noted by analysts at Bank of American Merrill Lynch. Meanwhile, and technically, a close above 0.8068 would initiate a deeper recovery to the 0.8247/38.2% retracement of the move down from September 2014 and the .8295 2015 peak as explained by Karen Jones, chief analyst at Commerzbank. The downside however offers the RBA's preferred price below 0.7600 psychological level.
AUD/USD is steady in to Asia, with recent price action over the majority of the afternoon US session's trading in less than a 20 pip range. Meanwhile, we have some major data coming up in Australia later with the jobs report on its way ahead of the showdown for the week that will come in the form of the Nonfarm Payrolls on Friday.
The RBA recently cut rates, and while the reward is potentially, but likely marginally, bolstering growth in the economy, there are the risks over the medium term of pushing dwelling prices too high and potentially encouraging households to overleverage as noted by analysts at Bank of American Merrill Lynch. Meanwhile, and technically, a close above 0.8068 would initiate a deeper recovery to the 0.8247/38.2% retracement of the move down from September 2014 and the .8295 2015 peak as explained by Karen Jones, chief analyst at Commerzbank. The downside however offers the RBA's preferred price below 0.7600 psychological level.