DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic

FX News

Most recent FX News:

Read more

Weak Australian job growth numbers send the AUD lower.

Written by Sam Coxhead on June 9th, 2011.      0 comments

11:50 AM (AEST) The Australian employment numbers just released showed 7.8k jobs were added in May against an expectation of 25.6k, and a steady unemployment rate of 4.9%. The jobs growth was provided by part time jobs being found, to the tune of 29.8k, and this gain was offset by a weaker loss of fulltime employment of 22k. The AUD has reacted negatively to this number as you would expect. This number will take some of the heat off the RBA to lift the cash rate from its current 4.75% over the next few months.
 
The AUD is softer against all its trading partners since the announcement and has pushed the closely watched NZD/AUD cross rate to the day’s high of .7770 (low AUD/NZD of 1.2870). Current conditions may see the NZD appreciate further against the AUD , but certainly in a more grinding fashion. A break of the .7810 level (1.2800) opens up the way  for another leg higher by the NZD.
 
The AUD will remain vulnerable to moves lower as general market risk aversion permeates, Asian equity markets are lower bond yields generally.
 
Just before the employment number was released a comment by RBNZ Governor  to Parliaments Finance and Expenditure committee was that the NZD had over reacted slightly since the Monetary Policy Statement this morning. This had caused the NZD to come off its highs against all trading partners, with the AUD now obviously excluded.
 
          Past 24 hours
  Current level Pre- AU Emply.  % Chge since AU Empl.   Low High
NZD/USD 0.8218 0.8224 -0.07%   0.8143 0.8246
AUD/USD 1.0578 1.0657 -0.75%   1.0578 1.0683
NZD/AUD 0.7770 0.7716 0.69%   0.7666 0.7770
AUD/NZD 1.2870 1.2960 -0.70%   1.2870 1.3044
NZD/GBP 0.5009 0.5015 -0.12%   0.4966 0.5025
NZD/EUR 0.5621 0.5627 -0.11%   0.5558 0.5646
NZD/JPY 65.78 65.89 -0.17%   65.03 66.07
NZD/CAD 0.805 0.8050 0.00%   0.7966 0.8075
 

Comments