Forex Trading

Forex Trading

Posted by admin | May 27, 2016 | Forex

AUD/USD smashing the upside on smashing jobs data

AUD/USD is off on the bid after a very strong jobs numbers, almost fairy tale stuff, and just in time for the bulls as the pair was looking as though it was a tried position on the bid and an overdue correction was on the cards.
However, the 0.73 is a tough nut to crack and if the recent highs are going to give, then this is the time for it to do so as otherwise the FOMC is around the corner and subsequent positioning elsewhere is set up fo a rate hike from the Fed.
The Aussie numbers came as follows:
The employment change and headline data came out: +71.4k vs expected -10.0k. Aussie soars! This is against prior revised 56.1k from 58.3k. The Unemployment Rate was 5.8% vs 6% expected. The Participation Rate 65.3% vs expected 65.0% and prior 65.0%. The Full Time Employment Change was 41.6K vs prior was 40K and revised from 39.7K.

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