US employment means all eyes on the Fed, but the Chinese return is key in the short term

Jim Devonport

Forex Worldwide

AUDUSD: Opens over a cent lower than Friday following the NFP report and drop in unemployment. Tomorrows Chinese Trade Balance number is key, as is Thursdays domestic Unemployment data and Chinese Inflation release. Technically there doesn’t seem a lot of support around for another 100 points or so. AUDEUR: Took another turn lower as investors return to the lower yielding "safe haven" currencies. There is no market moving events due out of Europe this week, so direction will be determined by Asian factors. Next weekends EuroGroup meetings should also keep us range bound. AUDGBP: The Pound lost ground versus the Greenback and so gains versus the Aussie Dollar were limited. Weaker UK data is set to continue with Manufacturing numbers Wednesday ahead of Thursdays BoE. With the above due and the target hit, we cannot see a reason for fresh lows just yet. AUDNZD: Both currencies are suffering internationally although will see what happens when the RBNZ meet on Thursday. Odd's are for a 25bps move but don't rule out 50bps just because of 2 higher milk price reads. (VIEW LINK)

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Jim Devonport
Jim Devonport
Forex Worldwide

Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...


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