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13 Jun 2013
Flash: AUD/USD bounce doesn't seem warranted - BBH
FXstreet.com (Córdoba) - The AUD strengthened as a knee jerk reaction to domestic jobs data, which showed employment rose 1.1k vs. -10k expected while the unemployment rate was steady at 5.5% vs. 5.6% consensus.
According to the BBH analyst team, the AUD bounce "doesn't seem warranted". "Jobs data were not that far from expectations given the 5k downward revision to the April series and the 5.3k decline in full time jobs", they comment. "Our gut feeling is that investors should sell into AUD bounces for now".
According to the BBH analyst team, the AUD bounce "doesn't seem warranted". "Jobs data were not that far from expectations given the 5k downward revision to the April series and the 5.3k decline in full time jobs", they comment. "Our gut feeling is that investors should sell into AUD bounces for now".