10 Oct 2013
AUD/USD hovering over 0.9400
FXstreet.com (Edinburgh) -The Aussie dollar extends the correction from the post-jobs report on Thursday, with the AUD/USD retracing ground from levels beyond 0.9470 to the current boundaries of 0.9400.
AUD/USD weaker by data
The long waited employment data in the Australian economy yielded mixed sensations today, as the jobless rate fell to 5.6% in September from 5.8%, whereas the employment increased by 9K, less than the forecasted 15K. Further data showed that Consumer Inflation Expectations climbed 2.0% during the same period. Annette Beacher, Strategist at TD Securities, commented “As the participation rate declined unexpectedly to 64.9% (prior: 65.0%) it drove the decline in the unemployment rate to 5.6% (prior:5.8%), without which the rate would have remained at 5.8% as the mkt expected. Hence, we see no real improvement in labour market conditions”.
AUD/USD key levels
At the moment the pair is losing 0.31% at 0.9412 and a break below 0.9389 (low Oct.4) would aim for 0.9379 (MA10d) and then 0.9367 (low Oct.3). On the flip side, the initial resistance lines up at 0.9459 (high Oct.4) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18).
AUD/USD weaker by data
The long waited employment data in the Australian economy yielded mixed sensations today, as the jobless rate fell to 5.6% in September from 5.8%, whereas the employment increased by 9K, less than the forecasted 15K. Further data showed that Consumer Inflation Expectations climbed 2.0% during the same period. Annette Beacher, Strategist at TD Securities, commented “As the participation rate declined unexpectedly to 64.9% (prior: 65.0%) it drove the decline in the unemployment rate to 5.6% (prior:5.8%), without which the rate would have remained at 5.8% as the mkt expected. Hence, we see no real improvement in labour market conditions”.
AUD/USD key levels
At the moment the pair is losing 0.31% at 0.9412 and a break below 0.9389 (low Oct.4) would aim for 0.9379 (MA10d) and then 0.9367 (low Oct.3). On the flip side, the initial resistance lines up at 0.9459 (high Oct.4) followed by 0.9524 (high Sep.19) and finally 0.9530 (high Sep.18).