AUD/USD: key data releases reviewed – BBH
By FXStreet Analysts at Brown Brothers Harriman noted the key data relevant to the Aussie overnight.
AUD/USD: consolidating at key 100 dma
Key Quotes:
“Australia reported weak January jobs data. The unemployment rate rose to 6.0% vs. 5.8% consensus, while total employment fell -7.9k vs. the 13k gain expected. The breakdown was very important, as full-time jobs fell -40.6 vs. a revised 17.0k gain (was 17.6k) in December, while part-time jobs rose 32.7k vs. a revised -17.8k (was -18.5k) in December. The notion of further RBA easing clearly remains in play, and this has led the Aussie to be the worst performer in the majors today. Still, the overall bounce in risk sentiment has limited the losses, and it is holding above the 0.7100 area. Break above the month’s high near 0.7240 would signal further gains.
China reported January CPI and PPI. The former rose 1.8% y/y vs. 1.9% consensus, while the latter fell -5.3% y/y vs. -5.4% consensus. At this point, China data is probably not as important for global markets as how Chinese markets are performing. In that regards, the FX and equity markets have been quite well-behaved since the New Year holiday ended. …read more
Source:: FX Street
