NFP Sagging – AUD/US at Low Level
The US dollar started the trading session earlier this week (09/05)
with deserted-sound after ending the session last weekend with a diverse
movement, especially after the release of US employment data recorded
decreases.
Non-Farm Payroll (NFP) AS sagging into 160,000 in April from the previous
in number 208,000 but the unemployment rate remained at 5.0 percent position.
Average hourly earnings rose 0.3 percent as expected, slightly higher than the 0.2
percent gain in March.
The US dollar was down as soon as the US NFP report shows that at
least an additional US jobs in the seven months through April. However, the
market quickly retreated again after monitoring that annual wage growth showed
an increase.
The William Dudley’s
Testimonial
Dollar rebound was also helped by comments from William Dudley, president
of the New York Fed's Region. Saying that the rise of interest, twice, this
year is still a reasonable expectation. Consequently, the US Dollar finally regain
teh support to go back to the level
before the US NFP release.
"Annual wage which growth higher than expected, is keeping the
expectance of increasement of Fed’s rate of interest alive hopes of Fed
interest rate hikes, but growth risks are still delaying the increase"
said Richard Grace, Head of Currency Expert at Commonwealth Bank.
In contrast, trade figures on Sunday obviously disappointing. Two
sector, both exports and imports, sag farther than the expected last month, and
underlines the weakness of demand in
and abroad, as well as dimming the recovery process again in the world's second
biggest economy country.
Nevertheless, the Australian dollar, which is most affected by China, appeared
to shrug off the data. This morning the AUD / USD is trading at 0.73375
figures, is still at a low level which formed since May 6. USD / JPY edged up
0.2 percent towards 107.29 yen. While the EUR / USD, down slightly by 0.1
percent to 1.1398 figure after touching 1.1380 figure, the lowest level since
April 29. USD / CAD is still at a high level 1.2925 as oil prices climbed
again.
Rent lockers Australia
Shrinking
The Australian dollar seemed so disturbed against the US dollar
earlier this week despite a series of data released. China, on Sunday, released
the results of a disappointing trade data. Countries that become the number one
trading partner for Australia, reported a decrease of 1.8 per cent in the
export sector to 172.7 billion figure for April, after increasing 11.5 percent
in March. While imports declined 10.9 percent to 127.2 billion per year figure,
after falling 13.8 percent in March.
While Australia itself, the job advertisement data has been released.
As a result, there was a significant reduction in the demand for labor sector
in the country, namely 0.8 per cent month-on-month in April, following an
upwardly revised 0.1 percent in March and 1.2 percent decline in February.
A survey conducted by the ANZ detailing, job advertisements over the
Internet declined 0.7 percent in April, while job advertisements in the
newspaper - which had been slumping in recent years - shrunk again as much as
6.2 percent in April.
"The recruitment of labor seems to be taking a pause-moment in
some time, and it will be difficult to re-see a significant drop in the
unemployment rate (Australia) in the short term," Felicity Emmett, Chief
economist for ANZ Bank Australia.
AUD / USD At Low Level
The Australian dollar slumped by more than 3 percent last week against
the US dollar, the worst slump caused by the policy of returning RBA cut
interest rates. AUD/USD slipped to lows last Friday at the 0.7338 figure.
This afternoon was the AUD/USD is not far from that level, precisely at
number 0.73536 at the time of writing.
