Fridays US payrolls was enough to cause a few strategists to change their tapering call to December, however it was the reaction in the market to the strong...

Chris Weston

Pepperstone

Fridays US payrolls was enough to cause a few strategists to change their tapering call to December, however it was the reaction in the market to the strong number that has everyone talking today. After the strong number we saw a spike in the USD and bond yields, however as traders dissected the numbers the consensus trades (or the one's you'd expect to do well or badly on a good non-farm payrolls) reversed course. AUD/USD rallied and has continued its move high in early Asia trade thanks largely to a strong Chinese export print released on Sunday. At 11:30 we get ANZ job ad's, while in China we get the latest read on Chinese CPI and the market expects a slight slowdown to 3.1% (from 3.2%). A number above 3.2% could send the AUD lower. AUD/USD bulls will be wanting to see a break of 0.9168 for a sustained move.


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Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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