CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

AUD/USD turns negative after dismal Aussie jobs data

4/19/2018, 10:15:11 AMTrading Strategies
AUD/USD turns negative after dismal Aussie jobs data

The Aussie dollar ran into bids after the Australian Bureau of Statistics (ABS)reported a drop in full-time jobs growth. 

Key points (Source: Reuters)

March employment +4.9k s/adj (Reuters poll: +21.0k)

March unemployment rate 5.5 pct, s/adj (Reuters poll: 5.5 pct)

March full-time employment -19.9k s/adj

March participation rate 65.5 pct, s/adj (Reuters poll: 65.7 pct)

February employment revised to -6.3k, from +17.5k

The weaker-than-expected headline figure, drop in the full-time employment and the downward revision of the previous month's jobs number has not gone down well with the investors. The AUD/USD turned lower from 0.78 and fell to a session low of 0.7774. As of writing, the currency pair is trading around the 50-day moving average (MA) located at 0.7778. 

The Aussie 10-year government bond yield has retreated from the session high of 2.80 percent to 2.78 percent post the release of the dismal Aussie employment data. 

AUD/USD Technical Levels

A break below 0.7772 (5-day moving average) would open up downside towards 0.7749 (10-day MA) and 0.7726 (April 5 high). On the higher side, only a daily close above 0.7795 (100-day MA) would signal a continuation of the rally from 0.7643 (March 29 low) and could yield a rally to 0.79 (psychological level) and 0.7916 (March 14 high).