16 Jan 2014
AUD/USD plummets to fresh 3-year lows after Australian jobs report
FXstreet.com (Córdoba) - The AUD/USD accelerated to the downside after the release of economic data in Australia and tumbled, falling more than 80 pips in a few minutes from 0.8900, reaching at 0.8808, the lowest price since August 2010.
According to the Australian Bureau of Statistics the employment fell on December by 22.600, surprising analysts that expected a gain of 10.000. The unemployment rate remained at 5,8% as expected.
AUD/USD and another leg lower
The pair had been falling since Monday's American session accumulating a decline of 150 pips until before the new slump, erasing all gains that followed the NFP, released last Friday. Before the Australian data the Aussie was trading with a downside bias, attempting to hold above 0.8900 but after the numbers collapsed, adding to weekly losses, that now are over 150 pips.
According to the Australian Bureau of Statistics the employment fell on December by 22.600, surprising analysts that expected a gain of 10.000. The unemployment rate remained at 5,8% as expected.
AUD/USD and another leg lower
The pair had been falling since Monday's American session accumulating a decline of 150 pips until before the new slump, erasing all gains that followed the NFP, released last Friday. Before the Australian data the Aussie was trading with a downside bias, attempting to hold above 0.8900 but after the numbers collapsed, adding to weekly losses, that now are over 150 pips.