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8 Jan 2015
AUD/USD contained on the bid before 0.81 handle
FXStreet (Guatemala) - AUD/USD is working the way to the upside, through onto the 0.8080 resistance and resting steady for now at 0.8077 up 0.08% on the day so far.
There is plenty of resistance ahead and good offers likely stacked up protecting the mid point of the 0.81 handle. The main event for the pair has been with the US calendar overnight, while ADP employment took the spotlight ahead of the FOMC minutes for Dec meeting.
The ADP report was positive printing 241k vs a 225k consensus of the employment change. The markets now await the full government report in the form of Nonfarm Payrolls where a more modest 240k number is expected and lower than the surprise 321k of previous. Meanwhile, the FOMC minutes did little more than emphasize that the Fed will likely wait until at least April before considering hiking rates and that the price of oil is net positive for the economy.
There is plenty of resistance ahead and good offers likely stacked up protecting the mid point of the 0.81 handle. The main event for the pair has been with the US calendar overnight, while ADP employment took the spotlight ahead of the FOMC minutes for Dec meeting.
The ADP report was positive printing 241k vs a 225k consensus of the employment change. The markets now await the full government report in the form of Nonfarm Payrolls where a more modest 240k number is expected and lower than the surprise 321k of previous. Meanwhile, the FOMC minutes did little more than emphasize that the Fed will likely wait until at least April before considering hiking rates and that the price of oil is net positive for the economy.