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AUD/NZD taking a "temporary" hit onto 1.09 handle?

FXStreet (Guatemala) - AUD/NZD is trading at 1.0986, down -0.40% on the day, having posted a daily high at 1.1049 and low at 1.0987.

AUD/NZD has taken a hit, a big hit post the disappointing jobs report. The report came in a fashion that took the market by surprise, seeing’s as economists had been expecting a solid set of data ahead of the quarterly Statement of Monetary Policy from the RBA tomorrow. However, this may not take away prospects for growth and it I just one number after all. The drop onto the1.09 handle is of curse significant but we remain in daily highs.

AUD/NZD remains a bullish picture

In fact, Richard Franulovich, analyst at Westpac Banking Corporation ABN
Explained earlier that the AUD/NZD appears to be a far more ideal cross. “Our AUD growth factor signal has stabilised and as the slide below shows the divergence between our AUD and NZD growth signals recently hit a multi-year extreme that in all probability is unlikely to be sustained. The message for AUD/NZD is one of multi month upside potential”.


AUD/JPY is selling-off following a disappointing Australian jobs report, which saw a significant miss in employment change and the jobless rate surge from 6% to 6.4%.
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One of the reason that could have negatively affected the jobless rate in Australia, which came at its highest level in 12 years (6.4% vs 6% exp) is the fact that the Australian Bureau of Statistics - ABS -introduced today for the first time changes in the calculation method for employment.
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