AUD news

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Australian Economy Adds 27,900 Jobs in July, Although Full-Time Positions Fall

Australia’s labor market continued to blossom in July, as employers increased payrolls for a fifth consecutive month. However, the entirety of the gains were concentrated in part-time positions, reviving previous concerns of slack in the labor force.

In seasonally adjusted terms, overall employment rose by 27,900 last month, following a revised gain of 20,000 in June, the Australian Bureau of Statistics said in a report on Thursday. Analysts in a median forecast called for a net gain of 19,800.

AUD/USD Retreats Following a Rejection At Key Resistance

AUD/USD is seen correcting lower following a surge in the exchange rate on Wednesday. The pair reversed at the European open and has
erased about 40% of the recent rise.

The Australian jobs report was somewhat mixed and aside from some immediate volatility, did not have a meaningful impact on the exchange rate.

The Australian Bureau of Statistics reported an additional 27,900 jobs in July. While this was above the analyst estimate of 19,800 jobs, the gain was entirely attributed to part-time employment as full-time figures declined. The unemployment rate was reported at 5.6% as expected and against a prior 5.7% that was revised up from an originally reported 5.6%.

Re: AUD news

AUD/USD boosted by full time jobs increase

The AUD/USD has responded positively to the latest Australian employment report, released overnight. Although the headline employment change at +5,600 missed expectations of +15,200, this was only because of a sizeable drop in part-time jobs as full-time employment actually increased by a good 20,300 in September.
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AUD Price at Risk to Political Uncertainty

AUD Price at Risk to Political Uncertainty, Fed Bets, BoC Rate Hike


- Australian Dollar declined despite jobs report as FOMC minutes overshadowed key risk
- Australia’s Prime Minister faces by-election, hung parliament may see AUD gap Monday
- US GDP beat, Fed policy bets and BoC rate hike leaves the Australian Dollar vulnerable

Read more: https://www.dailyfx.com/forex/fundament ... -Hike.html
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AUD in Consolidation

AUD/USD in Consolidation. GBP/AUD Risks Reversal, AUD/NZD More so


- Critical resistance prevented major AUD/USD upside reversal last week, key support held
- GBP/AUD is closer to a reversal of the dominant uptrend from August, proceed with caution
- AUD/NZD ends consolidation with a bearish reversal pattern, six-month uptrend is at risk

AUD/USD Technical Outlook: Neutral
The Australian Dollar spent most of its time trading sideways against its US counterpart last week. AUD/USD was initially on the verge of an upside reversal, but as anticipated key resistance held around the December/May 2016 lows. Meanwhile immediate support areas are preventing downside progress.

The first one is the September 11th low at 0.70830 which is also closely aligned with the 38.2% Fibonacci extension. Descending through that then leaves the October 8th low exposed at 0.70390. Until meaningful progress is made in either direction, the technical outlook for AUD/USD will have to be neutral.

GBP/AUD Technical Outlook: Slightly Bearish
Unlike AUD/USD, GBP/AUD descended through a couple of critical support barriers last week. First, the range of former resistance from March/April between 1.84 and 1.85. Then the 2015/2016/2018 horizontal line at 1.83436. However, towards the last few moments of Friday, the British Pound found itself pushing higher against the Australian Dollar, leaving it right on the former area,

One barrier does need to be cleared until we can argue that GBP/AUD is about to reverse the upside progress it has made since August. This is a rising range of support from then, and descending through it would be a strong bearish signal. Given that there may be a chance of such an occurrence this week, the GBP/AUD technical outlook will change to a slightly bearish bias.

AUD/NZD Technical Outlook: Bearish

For some time now, AUD/NZD prices have been largely trading sideways. This was finally broken last week after a descent through 1.08430 as the pair closed at its lowest since June 28th. Looking at the weekly AUD/NZD chart, we can actually see a head & shoulders bearish reversal pattern. Last week’s close marked the break of the neckline.

With that in mind, AUD/NZD may be on the verge of overturning the upside progress it has made for the past six months or so. In the long run, and by measuring the distance between the head and neckline of the candlestick pattern, the pair may face the April 2015 rising trend line. But getting there first requires descending through 1.07777 followed by 1.06699 which may hold as support areas.

Taking this into consideration, the AUD/NZD technical outlook will have to be bearish, especially if we get confirmation of the bearish pattern via more closes lower next week.

Source: https://www.dailyfx.com/forex/technical ... re-so.html
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AUD/USD remains bid despite risk-off in Asian equities

AUD/USD remains bid despite risk-off in Asian equities

- The AUD is surprisingly reporting gains amid risk aversion.
- The greenback is on the defensive as turmoil may force the Fed to soften is hawkish tone.

Currently, the AUD/USD is reporting a 0.30 percent gain at the session high of 0.7080 despite the heightened risk aversion in the equities.

Stepping back, the Australian dollar and other risk currencies took a beating yesterday as the Dow Jones Industrial Average tanked more than 600 basis points. The S&P 500 and the Nasdaq also reported sharp losses.

The increased haven demand for the treasuries likely lifted the greenback higher.

However, the Asian desks are viewing things differently - the US dollar is being offered possibly on fears that sustained risk aversion may force the Fed to soften its hawkish stance and delay the December rate hike.

Looking ahead, the corrective rally in the AUD/USD may gather pace if the European and US desks also see market instability taming Fed's aggression.

AUD/USD Technical Levels
Resistance: 0.7106 (previous day's low), 0.7160 (Oct. 17 high), 0.7186 (50-day EMA + falling trendline)

Support: 0.7055 (session low), 0.7041 (Oct. 8 low), 0.70 (psychological support)

Source: https://www.fxstreet.com/news/aud-usd-r ... 1810250336
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AUD/USD: recovery rally stalled at 200-hour MA hurdle

AUD/USD: recovery rally stalled at 200-hour MA hurdle

- AUD/USD's recovery from the 32-month low of 0.7021 seems to have stalled at the 20-hour moving averaged lined up near 0.71.
- The upside in the AUD is likely being capped by the weakness in the Chinese yuan.

Trend: Bearish

The 200-hour moving average (MA) of 0.7096 is the level to beat for the bulls. This is because the key moving average has proved a tough nut to crack since Friday's NY session.

At press time, the currency pair is trading at 0.7085. A break above the 200-hour MA would signal a continuation of the rally from the 32-month low of 0.7021 hit on Friday and could yield a rally to 0.7160 (Oct. 17 high).

However, a break above the 200-hour MA may remain elusive as the Chinese yuan is on the defensive. For instance, USD/CNH (off shore yuan) has bounced off the 5-day EMA and is currently reporting moderate gains at 0.6598. Further, the S&P 500 futures are down 0.17 percent.

Looking ahead, the AUD/USD could rise well above the 200-hour MA, if the global equities turn positive. A below-forecast US personal spending and core PCE figures could also put a bid under the AUD/USD.

AUD/USD Technical Levels

Resistance: 0.7096 (200-hour MA), 0.7160 (Oct. 17 high), 0.72 (psychological level)

Support: 0.7055 (Oct. 25 low), 0.7021 (Friday's low), 0.70 (psychological support)

Source: https://www.fxstreet.com/news/aud-jpy-r ... 1810290233
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AUD/USD remains under pressure

AUD/USD remains under pressure while below 0.7183/0.7260 - Commerzbank

While below the 0.7183/0.7260 area, the Aussie Dollar is expected to remain under pressure, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“AUD/USD continues to recover near term and we would allow for a rally to the 55 day moving average at .7183 and the .7260 2018 channel and while capped here this will leave the market under overall pressure”.

“We are looking for reversal for a number of reasons - we have TD support at .6995, the large divergence of the daily RSI and the 13 count on the weekly chart”.

“A close above the channel would be required to negate downside pressure and trigger a move to the .7474 9 th July high on the way to the 200 day ma at .7505”.

Source: https://www.fxstreet.com/news/aud-usd-r ... 1810310832
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