Aussie at 0.78 handle in a quite morning trade

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Friday, Apr 17 2015

It is a steadier morning part of the session for Aussie with traders still being influenced by rather good Australian job figures. To remind ourselves Australian employment increased by 37,700 to 11,720,300 in March while analysts were anticipating smaller increase by 14,900. Furthermore unemployment rate decreased less than 0.1 pts to 6.1% from a revised February 2015 estimate of 6.2%, also beating market expectations on no change.

What is currently supporting Aussie is also weak US data. It is been a bad week for US readings with Retail Sales, Industrial Production, Unemployment Claims and Building Permits data all being well below forecasts. This has turned speculations on possible postponing of Fed's rate hike date, which is for now placed for June meeting. However, we believe that this rebound in Aussie will be of only short-term basis.

Aussie is currently being traded at 0.78 handle. Pair is likely to find support around 0.7750 area and 0.77 handle in extension and resistance above 0.7850 level. Later today, in the US session, CPI and Consumer Sentiment figures are scheduled for a release.

More in this category: « USD lower after weaker than expected Unemployment Claims figures UK Unemployment Rate fell to 5.6% »

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