Forex Flash: Strong Aus jobs could see AUD/USD towards 1.06 - Westpac

FXstreet.com (Barcelona) - In less than 1 hour, the Australia’s employment report will be released. Westpac’s economists expect 10,000 jobs to be lost, says Sean Callow, FX strategist at the bank, which is a sum slightly below the -7,500 consensus pick.

Sean notes: "The range of forecasts is very wide – from +15k to -55k. Westpac Economics expect the unemployment rate to stay constant at 5.4% due to a forecast small drop in the participation rate. A strong jobs number could see AUD/USD push towards 1.0600, a level unbroken since March last year."

Apr 11, 2013

Forex: AUD/JPY breaks above 105; highest since 2007

With Australia jobs report just around the corner at 01:30 GMT AUD/JPY is last trading above the 105 handle, at its highest levels since late 2007, way before Lehman crisis hit. The cross is off recent record 5.5-year high printed in early Asian trade at 105.35, at 1.5-year high volatility with 146 pips per day on average for last 14 trading days.

EUR/AUD ends day sharply lower, Aussie employment data in focus

The EUR/AUD finished the session down 72 pips at 1.2394. Many attributed the weakness due to the Trade Data out of China which showed stronger imports than forecast and helped the Aussie maintain a bid across the board for much of the day. Market participants should be aware of the employment data coming out of Australia at 1:30 GMT which may have an impact on the pair later in the session.