8 May 2014
AUD: Aus jobs open doors for further gains - RBS
FXStreet (Bali) - AUD should benefit from stable rates, reinforced by a firm employment report, notes Greg Gibbs, FX Strategist at RBS.
Key Quotes
"Australian employment rose 14.2K in April, a bit above 8.8K expected, with all the gains in full-time jobs, and an upward revision from 18 to 22K in March. The unemployment rate remained at 5.8%, better than 5.9% expected, holding firm after falling from a cyclical peak of 6.1% in Feb."
"The data open the door to further gains in the AUD along with other high yield and high beta currencies against a weak USD, and against the NZD where rate hike expectations need to be revised down further after dovish comments from RBNZ Wheeler yesterday."
Key Quotes
"Australian employment rose 14.2K in April, a bit above 8.8K expected, with all the gains in full-time jobs, and an upward revision from 18 to 22K in March. The unemployment rate remained at 5.8%, better than 5.9% expected, holding firm after falling from a cyclical peak of 6.1% in Feb."
"The data open the door to further gains in the AUD along with other high yield and high beta currencies against a weak USD, and against the NZD where rate hike expectations need to be revised down further after dovish comments from RBNZ Wheeler yesterday."