6 Aug 2015
AUD/NZD rallied big through 1.13 after jobs but met supply
FXStreet (Guatemala) - <a href="http://www.fxstreet.com/technical-studies/currencies/audnzd/">AUD/NZD is currently trading at 1.1230 with a high 1.1318 of and a low of 1.1225.
AUD/NZD is starting to recover from the selling to the knee jerk bid to aforementioned highs in the cross when the Australian jobs report came in mixed but healthy overall.
AUD/NZD spiked to test 1.1300 when AUD/USD rallied higher on the knee jerk with a far bigger employment change number in comparison to expectations for July at +38.5 vs just +10k consensus. However, there the unemployment rate as also higher at 6.3% vs 6.1% and prior 6.1% revised up from 6.0%. However, the participation rate read as 65.1% vs 64.8% making the healthiest participation rate in about five years and should be overall supportive to the Aussie. Yesterday we had a disappointment in the NZ data. The unemployment change for Q2 came in line while the participation rate came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%.
The markets will now brace for the Nonfarm Payrolls at the end of the week. Today, from the US, the ADP jobs report came out below the psychological 200k mark as well at 185k vs 215k. This puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
AUD/NZD key levels
The price was up to and through 1.13 overnight, shy of the score through 1.1320 on the 13th of July's sticks. On a recovery of these lows post the data, 1.1378 is exposed being July's high ahead of June's at 1.1429. 1.1200 gives way to 1.0900 that is guarding space towards 1.0760 of the downside.
AUD/NZD is starting to recover from the selling to the knee jerk bid to aforementioned highs in the cross when the Australian jobs report came in mixed but healthy overall.
AUD/NZD spiked to test 1.1300 when AUD/USD rallied higher on the knee jerk with a far bigger employment change number in comparison to expectations for July at +38.5 vs just +10k consensus. However, there the unemployment rate as also higher at 6.3% vs 6.1% and prior 6.1% revised up from 6.0%. However, the participation rate read as 65.1% vs 64.8% making the healthiest participation rate in about five years and should be overall supportive to the Aussie. Yesterday we had a disappointment in the NZ data. The unemployment change for Q2 came in line while the participation rate came in lower than expected at 69.3% vs 69.6% consensus. The employment change missed also by 0.2% at 0.3% vs 0.5%.
The markets will now brace for the Nonfarm Payrolls at the end of the week. Today, from the US, the ADP jobs report came out below the psychological 200k mark as well at 185k vs 215k. This puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
AUD/NZD key levels
The price was up to and through 1.13 overnight, shy of the score through 1.1320 on the 13th of July's sticks. On a recovery of these lows post the data, 1.1378 is exposed being July's high ahead of June's at 1.1429. 1.1200 gives way to 1.0900 that is guarding space towards 1.0760 of the downside.