Compass Global Markets' Blog

Market Update - 8th July 2016 - Aussie Steady Ahead of U.S Jobs Numbers

Posted by Patrick Downes on July 8, 2016 at 9:52 AM

The Aussie dollar is little changed overnight except against NZD where we've seen some pretty substantial falls in the region of 2%. The reason for the dramatic falls against the so called Kiwi was as a result of comments from the RBNZ relating to the property market and perhaps the need for new policies before the end of the year.

U.S preliminary jobs numbers were strong overnight and suggest tonight's official non-farm employment data could be another cracking number. If that's the case we could well see Aussie decline on renewed USD bullish sentiment as a result on interest rate expectations. The market is expecting to see about 175K new jobs and a slight increase in the unemployment rate to 4.8%.

DATA RELEASES TODAY:

USD - Non-Farm Employment & Unemployment Rate at 10.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7481

AUD/GBP – 0.5803

AUD/EUR – 0.6733

AUD/NZD – 1.0361

AUD/JPY – 75.440

***Above rates are indiciative wholesale rates and intended as a quide only***

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Patrick Downes

Senior Corporate FX Dealer

 Compass Markets

Contact Patrick for a quote on 0431 278 632

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