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AUD/USD spikes above 0.7400 then eases on NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/USD spiked above 0.7400 to hit a fresh 7-month high as the knee-jerk reaction to the US nonfarm payrolls report.

    Data showed US economy added 242,000 new jobs in February, beating expectations of 190,000. Meanwhile, the unemployment rate stood unchanged at 4.9% as expected.

    AUD/USD reached its highest level since early August at 0.7413 but quickly returned to pre-data levels as USD strength outpaced risk appetite. At time of writing, AUD/USD is trading at 0.7375, still up 0.34% on the day.
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