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Sep 12, 2014
AUD/USD seen lower - UBS
FXStreet (Córdoba) - The UBS analyst team notes that the effect of the Australian jobs report on AUD/USD was mild and they expect the pair to continue to fall.
Key Quotes
“Australian employment posted the largest gain for more than 30 years in August. However, this needs to be put into perspective against the strong fall in July. Also the fact that out of 121k new jobs, only 14.3k have been full-time is worrying”.
“Overall, the labor market report did not help the AUD and did not prevent it from continuing its slide of recent days. Overall, the AUD looks more driven by the expectation on US monetary policy, than Australian economic data. We still see AUD/USD lower”.
Key Quotes
“Australian employment posted the largest gain for more than 30 years in August. However, this needs to be put into perspective against the strong fall in July. Also the fact that out of 121k new jobs, only 14.3k have been full-time is worrying”.
“Overall, the labor market report did not help the AUD and did not prevent it from continuing its slide of recent days. Overall, the AUD looks more driven by the expectation on US monetary policy, than Australian economic data. We still see AUD/USD lower”.