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Australian jobs throws any chance of RBA rate cut out of the window

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - The Australian employment figures are really outstanding, with an improvement in every single measure, which combined with positive revisions, throws any chances of an RBA rate cut out of the window for now, unless data in Australia significantly deteriorates.

    Plenty of topside stops in AUD/USD have been taken out, and while more follow through may not be discarded, as players liquidate AUD shorts, note that the pair has already reached its ATR 14 limit up for the day, which coincides with the topside resistance Daily R3. Also note, the market has now turned more bullish the USD following the 'also stellar' US NFP last Friday.
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