FXstreet.com (Barcelona) - Definitely risk-off is set in Asia-
Pacific today, with Hang-Seng index breaking to fresh 7-day
low losing some -1.82% and Nikkei -1.01%. Following "a
pretty horrible jobs report," says Westpac Bank Senior FX
Strategist Imre Speizer as quoted by Rebecca Howard for
DowJones, EUR/AUD cross bounces from all time lows
around 1.1932 to current 1.2004.
EUR/AUD is still slightly lower for the week and since
previous Asia-Pacific open yesterday, all due to the -27000
jobs lost in Australia for the month of June, much worse than
expected, as most economist surveyed were calling for a flat
figure, although the jobless rate rose to 5.2% as expected.
Moments before the data was released South Korea
unexpectedly cut rates to 3% for first time in 3 years
according to Bloomberg, with all local share markets now in
the red.
For the upside, immediate resistance for EUR/AUD shows at
July 09 lows at 1.2009, followed by July 05 lows at 1.2022,
and Monday/Tuesday's highs at 1.2094. For the downside,
nearest support stands at recent all time lows 1.1935, with
uncharted territory underneath.
No comments:
Post a Comment