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Forex Flash: Rising jobless rate to reinforce RBA's easing bias - UBS

FXstreet.com (Córdoba) - The AUD initially fell after Australia's labor data showed a loss of 36,100 jobs in March, says the UBS analyst team. "But considering the 74,000 jobs added in February, the economy still added around 38,000 jobs in the last 2 months".

"But a rise in jobless rate from 5.4% to 5.6% (even though participation rate has declined) poses concern that the non-mining sectors might not pick up the slack from the peaking mining boom", UBS comments. "Despite the soft labor data, the AUD is still likely to find support on the back of yen-carry trades".

Foreex Flahs: BTMU expects USD/JPY to move close to the 110.00 in the Q4

Now that the USD/JPY is kissing the so-called 100.00 level after advancing 725 pips since April 4th low at 92.70, market is asking what will happen with the pair above the 100.00 level. The most important resistance levels above here is the Novemeber 2008 high at 100.55 and the April 2009 high at 101.43.
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Forex Flash: The ECB will not cut rates at least through mid-2015 - Goldman Sachs

Market is debating about that the ECB's rate cut possibilities in the short term as some eurozone countries are in a bad shape, the Euroarea GDP is contracting and the inflation is somehow controlled. Now It looks a growing likelihood that the ECB is on the verge of a rate reduction.
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