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Forex Flash: Volatile Australian jobs number set to continue - Westpac

FXstreet.com (Barcelona) - Australia’s April employment data will be the highlight in Asia. According to Sean Callow, Westpac FX strategist, "the headline jobs change has been even more volatile than usual this year, with much debate over changing survey samples etc." After Feb’s +74K and Mar’s -36K, "consensus is for the seesaw to continue, with a headline +10K", Sean adds.

Mr. Callow adds: "Westpac is only slightly more upbeat, on +15K. The range is -10K to +30K. AUD’s kneejerk response will be to the jobs total and the unemployment rate, with the latter probably the best guide to the overall state of the labour market. We look for an uptick in participation to nudge the unemployment rate to 5.7% (consensus is steady at 5.6%). This would be the highest jobless rate since Sep 2009 and would support Westpac’s call for another RBA rate cut in June."

Forex Flash: Technical picture for USD/CAD suggests consolidation - TD Securities

The USD/CAD finished the day lower, down 20 pips at 1.0026. After suffering steep losses over the last two weeks (was trading just below 1.0300 in mid April), some analysts believe the pair is due for consolidation
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Forex: AUD/USD below 1.0200 ahead of a big day

Once NZ unemployment rate has been released beating estimates showing the best unemployment level in 3 years, AUD/USD is last at 1.0191, off session highs at 1.0195 printed on the back of the Kiwi news. The pair bounces from session lows at 1.0160, ahead of key risk events for Aussie in the Asia-Pacific in the form of unemployment rate in Australia and China CPI both at 01:30 GMT.
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