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12 Sep 2013
Flash: AUD/USD on poor data – TD Securities
FXstreet.com (London) - Research teams at TD Securities noted the poor readings for the AUD/USD.
Key Quotes:
“August labour market figures disappointed, with employment declining by 10.8k against consensus expectations for a 10k gain”.
“This was the second double-digit decline in a row, making it the worst start of Q3 since 1990”.
“This was driven mostly by a drop in part-time employment by 8.2k, and mostly in Queensland. Unemployment rate rose from 5.7% to 5.8% as expected, but participation rate declined from 65.1% to 65.0% against consensus expectations for a small gain to 65.2%”.
“The data drove AUD 0.8% weaker against USD and other majors in overnight trading”.
Key Quotes:
“August labour market figures disappointed, with employment declining by 10.8k against consensus expectations for a 10k gain”.
“This was the second double-digit decline in a row, making it the worst start of Q3 since 1990”.
“This was driven mostly by a drop in part-time employment by 8.2k, and mostly in Queensland. Unemployment rate rose from 5.7% to 5.8% as expected, but participation rate declined from 65.1% to 65.0% against consensus expectations for a small gain to 65.2%”.
“The data drove AUD 0.8% weaker against USD and other majors in overnight trading”.