7 May 2015
AUD/USD hits fresh lows, approaches 0.7900
FXStreet (Córdoba) - AUD/USD broke below 0.7930 and dropped to 0.7909 hitting a fresh daily lows as the US dollar strengthened across the board. The pair moved sideways during the European session between 0.7965 and 0.7930 before breaking to the downside.
AUD/USD still up for the week despite rate cut and jobs data
The aussie continues to trade above the levels it opened on Monday against greenback despite the rate cut by the Reserve Bank of Australia and also after today’s employment report. In Australia the unemployment rose to 6.2% in April from 6.1% while a net 2,900 jobs were lost in the economy; analyst were expecting a gain of 4,000.
The recent slide to fresh lows was boosted by a stronger dollar in the market, following better than expected jobless claims data in the US. So far the area above 0.7900 capped the decline but the pair continues under bearish pressure in the short term.
AUD/USD still up for the week despite rate cut and jobs data
The aussie continues to trade above the levels it opened on Monday against greenback despite the rate cut by the Reserve Bank of Australia and also after today’s employment report. In Australia the unemployment rose to 6.2% in April from 6.1% while a net 2,900 jobs were lost in the economy; analyst were expecting a gain of 4,000.
The recent slide to fresh lows was boosted by a stronger dollar in the market, following better than expected jobless claims data in the US. So far the area above 0.7900 capped the decline but the pair continues under bearish pressure in the short term.