9 Jan 2014
AUD/USD consolidating after overnight drop
FXstreet.com (London) - AUD/USD is down on the day, currently trading at USD0.8879.
The Aussie dollar was given a short-lived boost by November retail sales figures, which showed a 0.7 percent month-on-month gain, up from 0.5 percent and far exceeding consensus expectations of a fall to 0.3 percent. However, AUD was driven down by a further contraction in month-on-month building approvals, adding to the 1.6 percent drop in October.
Non-farm payroll numbers in focus
After the release of the December FOMC minutes yesterday, USD focus is now on the release of non-farm payroll statistics tomorrow. Better-than-expected ADP numbers, at 238k against a consensus expectation of 200k bodes well for a strong print.
AUD/USD range-bound
AUD/USD is currently trading at USD0.8879, consolidating after a sharp drop from session highs at USD0.8912. The pair is currently range-bound between USD0.8870 and USD0.8890 with little in the way of macro events on the cards.
The Aussie dollar was given a short-lived boost by November retail sales figures, which showed a 0.7 percent month-on-month gain, up from 0.5 percent and far exceeding consensus expectations of a fall to 0.3 percent. However, AUD was driven down by a further contraction in month-on-month building approvals, adding to the 1.6 percent drop in October.
Non-farm payroll numbers in focus
After the release of the December FOMC minutes yesterday, USD focus is now on the release of non-farm payroll statistics tomorrow. Better-than-expected ADP numbers, at 238k against a consensus expectation of 200k bodes well for a strong print.
AUD/USD range-bound
AUD/USD is currently trading at USD0.8879, consolidating after a sharp drop from session highs at USD0.8912. The pair is currently range-bound between USD0.8870 and USD0.8890 with little in the way of macro events on the cards.