Forex - AUD/USD lower after jobs data
Published Sep 11, 2013 10:25PM ET
In Asian trading Thursday, AUD/USD slid 0.71% to 0.9263. The pair was likely to find support at 0.9168, the low of September 9 and resistance at 0.9480, the high of June 10.
Earlier Thursday, the Australian Bureau of Statistics said the country’s unemployment rate rose to 5.8% last month from 5.7% in July. Analysts expected that increase.
The Statistics Bureau added that the Australian employment change fell by 10,800 in August after a July drop of 11,400. The July number was revised lower after an initial reading showed a decline of 10,200. Analysts expected an August increase of 10,000.
Those data points come a day after the Westpac Banking Corporation said consumer sentiment in Australia rose 4.7% in September, after a 3.5% increase the previous month.
The Aussie has been trading near seven-week highs against the greenback due in part to some short-covering so Thursday’s jobs data may give skittish Aussie bears some relief, albeit temporary.
Elsewhere, AUD/JPY plunged 1.16% to 92.12 after the Economic and Social Research Institute said that Japan’s core machinery orders were flat last month after a contraction of 2.7% in July. Analysts expected Japan’s core machinery orders to rise to 2.4% last month.
AUD/NZD lost 1.15% to 1.1472 while GBP/AUD jumped to 1.7080.
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Written By: Investing.com
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