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13 Jun 2013
Australia employment next: Impact on AUD/USD
FXstreet.com (Barcelona) - The Australia jobs data will be released at 01:30 GMT, with expectations this time around for a reduction of the total labour force in May by 10,000 as opposed to an eye-popping rise of 50,100 in April.
AUD/USD in need of another upbeat number
The key pair to watch will be the AUD/USD. In view of In-House Chief Analyst Valeria Bednarik, "Australia will need another round of up beating news, better than the really negative expected ones, to be able to continue with its latest recovery."
No number will be enough to revert bear trend
Bednarik thinks that under such a strong bear trend, "the reading itself won’t be enough to revert the trend but temporarily", as strong selling interest "is still ready to jump in on runs higher" the Analyst adds. In case data is downbeat, it should send AUD strongly down, "particularly against these days’ strong yen, dragging along the NZD" Bednarik concludes.
AUD/USD in need of another upbeat number
The key pair to watch will be the AUD/USD. In view of In-House Chief Analyst Valeria Bednarik, "Australia will need another round of up beating news, better than the really negative expected ones, to be able to continue with its latest recovery."
No number will be enough to revert bear trend
Bednarik thinks that under such a strong bear trend, "the reading itself won’t be enough to revert the trend but temporarily", as strong selling interest "is still ready to jump in on runs higher" the Analyst adds. In case data is downbeat, it should send AUD strongly down, "particularly against these days’ strong yen, dragging along the NZD" Bednarik concludes.