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Australian Jobs Report Boosts AUD

AUSSIE

AUD picks up a bid as headline figures in Australia's latest labour market report top forecasts across the board, with a surprise addition of 111.0k jobs coupled with an unexpected uptick in participation resulted in a fall in the unemployment rate to 6.8% from 7.5%. The data has negated earlier light pressure to the Aussie, likely coming from a Global Times report warning that Australia's attempts at maintaining "warm ties in business but frosty ties in politics" with China are delusional.

  • AUD/USD is back to neutral levels, last sits +2 pips at $0.7308. Familiar technical levels are in play.
  • AUD/NZD last seen +31 pips at NZ$1.0881, after the 50-DMA cushioned earlier losses. Technical levels outlined in an earlier bullet remain in focus.
  • AUD/JPY last sits at Y76.75, 8 pips better off. A break above Sep 10 high of Y77.74 would bring Aug 31 high of Y78.46, a key near-term resistance, into view. Bears look for a fall through the 50-DMA/Sep 9 low at Y76.23/12 before targeting Aug 24 low of Y75.45.
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