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%
Germany’s Merkel on the Wires
Says:
- EU Should consider rewarding tight budgets with aid
- EU fiscal pact still being drafted
- Parts of EU fiscal pact still need work
- ‘Not pessimistic’ fiscal pact will meet girls
- ‘Looking into’ ways to help countries in austerity
- Doesn’t cite ways to promote growth in Euro area
China’s December Property Prices
China’s Property Prices in December fell in 52 out of 70 cities.
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