Aussie Above Trendline
The AUDUSD pair broke above 6 month old trendline resistance, but has lost its bid at the 76.4% of the October to November move.
USDSGD Below Support
The USDSGD pair is clearly below all the support we have been reviewing the last few weeks, with the 200 day mavg ~ 2 big figures lower.
EURUSD Gaps Lower But Holds
The EURUSD pair opened the week below the 1.29 handle, however it has held what was trendline resistance and the 21day moving average.
China Sets Yuan Reference Rate @ 6.3173
Aussie Employment Report
The AUDUSD fell by 50 pips initially as the Aussie employment report showed a loss of -29.3K jobs versus the estimate of a 10K increase. However the currency has quickly recovered as a look at the details revealed the loss was driven mostly by a loss of part-time jobs following the holiday season. The details of the release are as follows:
- Employment Change – Survey:10K Actual:-29.3K Prior:-6.3K
- Unemployment Rate – Survey:5.3% Actual:5.2% Prior:5.3%
- Full Time Change – Survey:18.8K Actual:24.5K Prior:-39.9K
- Part Time Change – Survey:-8.8K Actual:-53.7K Prior:33.6K
The Aussie wedge we reviewed yesterday continues to hold.
ANZ Consumer Confidence
Consumer Confidence in Australia came in much stronger that the prior month in January with the Index printing a 116.1 (108.4 prior) and 7.1% lift (-0.6% prior.)
Aussie Consumer Inflation Expectation
The Aussie Consumer Inflation Expectation for January came in at 2.8%, firmer than the prior release of 2.4%, helping the AUD gain a mild bid.
New Zealand CPI
New Zealand’s Consumer Price Index for the 4th quarter came in well below expectations, the details are as follows:
- CPI (QoQ) – Survey:0.4% Actual:-0.3% Prior:0.4%
- CPI (QoQ) – Survey:2.6% Actual:1.8% Prior:4.6%
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