6 Mar 2015
AUD/USD steady in quiet Asia ahead of US payrolls
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7777 with a high of 0.7785 and a low of 0.7776.
The AiG Performance of Construction Index (Feb) numbers came out at 43.9 vs a previous of 45.9 and there were no great shakes on a steady market ahead of what will likely pick up on the US. We have the US Nonfarm Payrolls numbers that are expected to be showing strength with a 240k consensus.
Overall, the markets are broadly on the offer in the Aussie with the RBA in the shadows and the door left open by them for a rate hike in April. Analysts are pilling up on the back of the pair and sighting lower levels yet, with analysts at Scotiabank holding their year-end target at 0.73. Broader bearishness is still in place and below the February lows, there is just the 0.7335 area and this is the 50% retracement of the move up from 2001, as noted by Karen Jones, chief analyst at FXStreet.
The AiG Performance of Construction Index (Feb) numbers came out at 43.9 vs a previous of 45.9 and there were no great shakes on a steady market ahead of what will likely pick up on the US. We have the US Nonfarm Payrolls numbers that are expected to be showing strength with a 240k consensus.
Overall, the markets are broadly on the offer in the Aussie with the RBA in the shadows and the door left open by them for a rate hike in April. Analysts are pilling up on the back of the pair and sighting lower levels yet, with analysts at Scotiabank holding their year-end target at 0.73. Broader bearishness is still in place and below the February lows, there is just the 0.7335 area and this is the 50% retracement of the move up from 2001, as noted by Karen Jones, chief analyst at FXStreet.