Free Trial

AUD/USD extends losses after the.............>

AUSSIE
AUSSIE: AUD/USD extends losses after the publication of the latest Australian
labour market report. Headline unemployment rate edged higher to 5.3% from 5.2%,
which was driven by bump in participation rate to the record high of 66.2%.
Employment swelled more than expected, but solely on the back of part-time jobs
addition. Underemployment inched higher.
- The rate last trades off lows at $0.6796, 31 pips worse off. The 50% fibo
retracement of this month's rally at $0.6791 limited the reaction move and bears
look for a fall below the level. This would clear the way to the 61.8% fibo
retracement of the same range, located at $0.6767.
- AUD/JPY has shed 53 pips, last deals at Y73.52. A break under the Sep 9 low of
Y73.42 would open up the 50-DMA at Y73.32. Bulls would be pleased by a return
onto the Y74.00 handle.
- AUD/NZD last seen at NZ$1.0774, 29 pips lower on the day. The pair is heading
towards the channel support/Sep 16 low at NZ$1.0754/52. A breakout would expose
the NZ$1.0708-09 region, which registered a series of highs earlier this month.
Bulls look for a break above NZ$1.0797, the high of Sep 13.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.