AUD/USD teases towards 0.80 on OK jobs report

Australia gained jobs once again: 14K in June, in line with expectations for around 15K. The previous figure was revised down from 42K to 38K. The unemployment rate stood at 5.6% as expected.

What kind of jobs were gained? Here there is better news: 62K gains of full-time jobs mitigated a drop of no less than 48K. The participation rate also beat expectations by reaching 65% from 64/9% last time.

The news saw some nervous trading, sending AUD/USD to 0.7987, just 13 pips short of the round number of 0.80. After the knee-jerk reaction, the pair is trading back to the previous range at 0.7940 at the time of writing. They are expected to

AUD/USD remains on the high ground after breaking above 0.7835, a tough line. The hawkish meeting minutes by the RBA drove the pair higher.

Get the 5 most predictable currency pairs[1]

from Forex Crunch

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