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Forex Trading

Aussie Employment Report

The Australian Dollar again has come under some pressure today as it has all week producing weaker than expected economic indicators. Although the rate is as expected the number of jobs created was ~20k less than expected with a softer participation rate. The details of the release are as follows:

  • Employment Change – Survey:5.0k   Actual:-15.4k   Prior:46.3k
  • Unemployment Rate – Survey:5.2%   Actual:5.2%   Prior:5.1%
  • Full Time – Actual:0.0k   Prior:12.3K
  • Part Time – Actual:-15.4K   Prior:34.0K
  • Participation Rate – Survey:65.3%   Actual:65.2%%   Prior:65.3%

Japan’s Q4 GDP

The USDJPY pair momentarily caught a light bid following continued terrible numbers out of Japan, as their economy shrinks and deflates. The details are as follow:

  • GDP Deflator (YoY) – Survey:-1.6%   Actual:-1.8%   Prior:-1.6%
  • Nominal GDP (QoQ) – Survey:-0.3%   Actual:-0.5%   Prior:-0.8%
  • GDP Annualized (YoY) – Survey:-0.6%   Actual:-0.7%   Prior:-2.3%
  • GDP (QoQ) – Survey:-0.2%   Actual:-0.2%   Prior:-0.6%
  • Current Account Total – Survey:-320B   Actual:-437.3B   Prior:303.5B

NEW ZEALAND KEEPS BENCHMARK RATE UNCHANGED AT 2.5%

Bollard says

  • financial mkt sentiment remains fragile
  • risks to global outlook remain
  • building activity recovery underway
  • Household spending has picked up
  • Inflation near target range
  • Sustained NZ$ gain would reduce need for rate rise

US Nonfarm Productivity and Unit Labor Costs Both Rise

US Nonfarm Productivity and Unit Labor Costs Both Rise

Nonfarm Productivity:    Survey: 0.8%    Actual:  0.9%    Prior:  0.7%     

Unit Labor Costs:    Survey:   1.2%    Actual:   2.8%    Prior:   1.2%

Canadian Building Permits MoM

Canadian Building Permits MoM

Survey: -3.2%, Actual: -12.3%, Previous: 11.1%, Revised: 10.5%

German factory orders, for January, drop 2.7% vs. the 0.6% estimated gain.

  • Manufacturing orders fall 4.9% from a year ago.
  • Domestic factory orders gain 0.9% from the prior month.
  • Export factory orders fall 5.5% from the prior month.

 

Greek fin. minister Venizelos says debt ratio is around 170% of GDP.

Adds that 120% of GDP target in 2020 is a realistic target.

USD/JPY looking to re-test lows

After finding resistance from the 200 hour moving average it appears the pair may be looking to re-test the 80.578 low. In this area we find support on both the hourly and daily charts.

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