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May 19 - 10:55 PM

AUD/USD - Jobs Miss, Validating Cautious RBA, Modest Impact

By Andrew M Spencer  —  May 19 - 09:40 PM

  • +0.1% the volatile jobs data - missed, but a modest reaction, now flat

  • Jobs -30.6k f'cast +15k, unemployment rate 5.5% f'cast steady at 5.6%

  • Full time jobs increased by 33.8k, which is an underlying positive

  • Numbers validate the RBA's dovish stance - jobs recovery will take time

  • Charts, momentum studies, 5, 10 & 21 daily moving averages crest

  • Setup turned to modest negative, not unusual at the lower end of the range

  • Further consolidation likely - 0.7670-0.7890 broad range to extend

  • NY 0.7710 - 0.7763 range is initial support resistance

For more click on FXBUZ


aud 2 may 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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