Free Trial

Aussie-dollar: Aug16 close...........>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aussie-dollar: Aug16 close $0.7928, Aug17 Asia range $0.7923-50,
Europe 0.7932-63
*The weaker US dollar theme continued in early Asia, aussie climbed higher from
$0.7923 to $0.7949
*Reaction to Australia's July jobs report saw the rate initially dip from
$0.7945 to $0.7923, before an immediate bounce to $0.7945. Traders were
disappointed with the break-down between full and part time jobs, full time
employment dropped 20,300 while part-time rose to 48,200
*Consolidation then became the theme, Aussie held a narrow $0.7925-37 range 
*Aussie cross demand (eur-aud/aud-jpy) emerged in early Europe, base metals also
supported as the rate squeezed through the Asia high to $0.7963
*As profit take sales emerged, the break back under $0.7950 triggered fresh
supply from momentum type accounts to challenge the area of earlier lows 
*Hourly support is seen at $0.7923, demand placed behind on approach to $0.7900.
Aussie last $0.7936. 

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });