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13 Jun 2013
Aussie inching sideways below 0.9500
FXstreet.com (Barcelona) - After trading as high as 0.9526 earlier in the day, the AUD/USD was unable to maintain a firm bid at higher prices and leaked lower later in the New York session, still closing the day up 51 pips at 0.9482.
AUD jobs data on tap at 1:30GMT
In what was already a very volatile day, the pair is likely to experience another wide ranging day with the latest AUD Jobs release do out a bit later in the session. Analysts at NAB Global were pointing towards the impressiv figures we saw last month, commenting a similar jump is not likely for tonight’s print. “After last month’s eye-popping 50.1k jump in employment NAB looks for a significant correction (-30k, versus market consensus for -10k). As far as impact on the RBA’s July rate deliberations go, the unemployment rate may hold bigger sway, in which respect we look for a jump to 5.7% from 5.5% (market 5.6%),” NAB concluded.
To conclude their view, NAB went on to say the AUD/USD could see further selling pressure should the print come in lower than expected, but until 0.9380 is broken on a close look for consolidation instead of another immediate wave down.
AUD/USD short term technical picture still bearish
Val Bednarik, Chief Analyst at FXStreet.com was turning towards the shorter term time frame charts in order to get an idea of what the technical set up is heading into the big release. “AUD/USD trades below 0.9500 area, after finding sellers around 0.9560 and weighted by falling stocks for most of the past session. As for technical readings, the hourly chart shows price back below 20 SMA while indicators head lower approaching their midlines, supporting another leg down,” Bednarik concluded.
AUD jobs data on tap at 1:30GMT
In what was already a very volatile day, the pair is likely to experience another wide ranging day with the latest AUD Jobs release do out a bit later in the session. Analysts at NAB Global were pointing towards the impressiv figures we saw last month, commenting a similar jump is not likely for tonight’s print. “After last month’s eye-popping 50.1k jump in employment NAB looks for a significant correction (-30k, versus market consensus for -10k). As far as impact on the RBA’s July rate deliberations go, the unemployment rate may hold bigger sway, in which respect we look for a jump to 5.7% from 5.5% (market 5.6%),” NAB concluded.
To conclude their view, NAB went on to say the AUD/USD could see further selling pressure should the print come in lower than expected, but until 0.9380 is broken on a close look for consolidation instead of another immediate wave down.
AUD/USD short term technical picture still bearish
Val Bednarik, Chief Analyst at FXStreet.com was turning towards the shorter term time frame charts in order to get an idea of what the technical set up is heading into the big release. “AUD/USD trades below 0.9500 area, after finding sellers around 0.9560 and weighted by falling stocks for most of the past session. As for technical readings, the hourly chart shows price back below 20 SMA while indicators head lower approaching their midlines, supporting another leg down,” Bednarik concluded.