Thursday, 04 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
AUD/USD Stays Below 0.5800 Despite Surprise Upbeat Aussie Jobs Report
Thursday, 19 March 2020 08:19 WIB | CURRENCIES |AUD/USD,Dollar Australia,

Despite witnessing better than forecast February month Australian jobs report, AUD/USD remains on the back foot near 0.5770 during Thursday™s Asian session. The reason could be traced from the comparative strength of the US dollar amid the rush to hoard the greenback during the times of major steps to combat the coronavirus (COVID-19).

Australia™s February month seasonally adjusted Employment Change rose beyond 10K forecast and 13.5K prior figures to 26.7K whereas Unemployment Rate also slipped below 5.3% expected and earlier to 5.1%.

Even so, the Aussie pair fails to cheer the data amid the broad US dollar strength backed by the global stimulus measures to ward off the negative impacts of the virus. The recent announcement came from the European Central Bank (ECB) while the heavy measures from the US and Japan are still in the pipeline.

The Pandemic has now infected more than 2,14,000 people across the globe while the latest report suggests a spike in cases from Italy and the UK.

However, the market™s risk-tone currently seems to praise the ECB™s efforts, as well as expectations of Japanese and the US Quantitative Easing (QE). While portraying the same, the US stock futures and Japan™s NIKKEI flash gains by the press time.

Having witnessed the initial market reaction to the Aussie data, traders will now focus on the upcoming RBA where most analysts predict a rate cut and/or Quantitative Easing (QE) to ward off the negative impact of the coronavirus.

It should, however, be noted that the markets now await US stimulus package, which is anticipated to the size of $1.3 trillion, for another push up o the US dollar. Also in the pipeline is the major combat measures from the Japanese side that the press expects somewhere near 30 trillion yen.

Source : FX Street

RELATED NEWS
Euro Tops $1.12 Level for The First Time Since The Middle of March...
Wednesday, 3 June 2020 15:14 WIB

The euro topped $1.12 for the first time in 11 weeks, extending the shift in the currency market amid optimism over economic reopenings across the globe. The euro traded at $1.1226 vs. $1.1168 on Mon...

EUR/USD tops 1.12 amid risk-on mood, ahead of data...
Wednesday, 3 June 2020 13:51 WIB

EUR/USD is trading around 1.12, the highest since March. The safe-haven dollar is weakening amid optimism for reopening and stimulus, shrugging off civil unrest. Services PMIs from both sides of the p...

Dollar Falls as Focus Shifts to Recovery Prospects...
Wednesday, 3 June 2020 08:47 WIB

The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors to step up holdings of riskier assets. The Aust...

Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support...
Tuesday, 2 June 2020 15:17 WIB

Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with th...

Dollar on Defensive as Markets Pin Hopes on Global Economic Recovery...
Tuesday, 2 June 2020 08:45 WIB

The dollar was on the defensive on Tuesday as investors stuck to hopes of a global economic recovery despite heightened concerns over U.S.-China tensions and mass protests in many U.S. cities over the...

LATEST NEWS
Indigenous Australians Show Solidarity With US Protesters

As protests take place in the United States of America, indigenous families who have had bad experiences with law enforcement say police brutality is a serious problem in Australia. Aboriginal Australians make up about 3 percent of the total...

Wall Street rally gains steam, Dow up 400 points as data boosts hope of economic recovery

Stocks rose sharply on Wednesday on the back of better-than-expected economic data, which bolstered optimism over the recovery from coronavirus-led shutdowns. The Dow Jones Industrial Average jumped 426 points, or 1.7%. The S&P 500 gained 1.2%...

European stocks close over 2% higher as reopening optimism outweighs U.S. unrest

European stocks marched higher Wednesday as optimism over the reopening of major economies outweighed investor fears over widespread protests in the U.S. The pan-European Stoxx 600 closed up by more than 2% provisionally, with all sectors and...

POPULAR NEWS
Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB

Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...

Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal
Monday, 1 June 2020 09:15 WIB

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning...