AUD

Australian election - change of government

• The opposition Labor Party will form government. The incumbent Liberal/National coalition (i.e. conservative) government was defeated.

AUDUSD dips back toward the 100 hour MA

• Stock declines help to weaken the pair

Australian state of NSW has identified a probable case of monkeypox

AUDUSD trades to a new week high and highest level since May 6

• The good news for buyers is the 100/200 hour MA was a base for the move higher

Key Trading Levels to Watch for Today

• AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDJPY, USD Index, & S&P 500

Australian dollar back above 0.7000 amidst wider USD slide

AUD - today's drop in the unemployment rate is leading media reports

• Financial media is drawing the 'higher RBA rates' implication from the strong labour market

Australian April Jobs: Employment +4.0K (vs. +30K expected) & Jobless rate 3.9% (3.9%)

Australian election this weekend: Opposition leader will address budget issues immediately

Australian jobs market report coming up Thursday 19 May 2022 - growth in jobs expected

AUDUSD trades to new lows. Trades between longer term swing area.

• Weekly swing area between 0.6966 and 0.7005

AUD/USD carves out a new low as the rout intensifies. Note the AUD/JPY chart

• This is a terrible day for stocks

AUD drops a few ticks after the lower than expected Australian wages data

Australian wages index for Q1 2022: 0.7% q/q (vs. expected 0.8%)

Here's why the Reserve Bank of Australia will hike the cash rate by 40bps to 0.75%