Free Trial

Labour Market Report Takes Focus

AUD

AUD/USD lost ground Wednesday, as U.S. CPI inflation accelerated to the fastest pace since 1990. The rate registered its worst levels since Oct 13, re-testing that day's trough.

  • The pair last changes hands at $0.7333, up 7 pips on the day. Bulls look to a move through Nov 9 high of $0.7432, which would clear the way to Nov 4 high of $0.7471. Meanwhile, a fall through the 61.8% retracement of the Sep 29 - Oct 28 rally at $0.7317 would shift focus to the 76.4% Fibo level at $0.7261.
  • The main focus today falls on the local jobs market report, due half an hour later. The unemployment rate may have ticked higher to 4.8% from 4.6%, according to Bloomberg consensus forecast.

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.