7 Nov 2013
Session recap: Data “down under” expectations from the “Land Down Under”
FXstreet.com (Barcelona) - The Thursday session in Asia started off fairly upbeat with many of the risk currencies making progress versus the safety currencies. However, the market seemed to be blind-sided by very poor Australian employment data which flew in the face of the recent bullish narrative coming out of Australia.
Aussie jobs data crushes the hopes of the bulls – at least temporarily
Just when analysts and traders thought they had the Australian economic situation figured out – burgeoning growth fueled by a high level of business confidence but with an uncomfortably high correlation to the fortunes of the Chinese economy – the Australian employment data comes in in a completely different ballpark from where analysts had their expectations. The reaction in all of the Aussie crosses was severe – in most cases erasing a very good portion of recent moves that had occurred based on AUD strength.
Japanese data still due out prior to the European open
In the next couple of hours leading into the open of the European session, the Bank of Japan will be releasing their monthly Economic Survey along with the country’s Leading Indicators and Coincident Indicators.
Main headlines in Asia
Huge jump in Australian construction index, will the RBA like the number?
Australia labour data: 28K full time jobs lost
Kuroda: BOJ will eventually debate exit policy when the goal has been met
CFTC releases last catch up report, explains EUR longs squeeze - TDS
AUD/USD triggers stops sub 0.9480, risk of selling strength back
Aussie jobs data crushes the hopes of the bulls – at least temporarily
Just when analysts and traders thought they had the Australian economic situation figured out – burgeoning growth fueled by a high level of business confidence but with an uncomfortably high correlation to the fortunes of the Chinese economy – the Australian employment data comes in in a completely different ballpark from where analysts had their expectations. The reaction in all of the Aussie crosses was severe – in most cases erasing a very good portion of recent moves that had occurred based on AUD strength.
Japanese data still due out prior to the European open
In the next couple of hours leading into the open of the European session, the Bank of Japan will be releasing their monthly Economic Survey along with the country’s Leading Indicators and Coincident Indicators.
Main headlines in Asia
Huge jump in Australian construction index, will the RBA like the number?
Australia labour data: 28K full time jobs lost
Kuroda: BOJ will eventually debate exit policy when the goal has been met
CFTC releases last catch up report, explains EUR longs squeeze - TDS
AUD/USD triggers stops sub 0.9480, risk of selling strength back