The Australian dollar is flat on the day at 0.9355. The pair is impressively holding the outsized gain it made on Tuesday after the break of 0.9300. Home loan numbers released earlier bumped the pair up to 0.9388 but it’s faded back ahead of today’s employment report.
Expectations are for 2.5K jobs and the unemployment rate ticking to 6.1% from 6.0%. Last month’s employment report was extremely strong with 80.5K new jobs created and it kicked off the recent rally from 0.9000 to current levels.
Offers on the approach to 0.9400 are capping the market but there are buys stops above 0.9420. More offers at 94.50.
Buyers lurk at the session low of 0.9335 with minor demand ahead of 0.9300. Better buyers in the 0.9260/50 range and heavy bids ahead of 0.9200.
