- Australian unemployment rate rises more than expected to 5.3%
- Bank of Korea keeps rates unchanged; decision was not unanimous
- Japan’s latest current account surplus shrinks
- Japan core machinery orders -8.2% MoM
- Fed’s Williams favours lower long term rates
- Regional stockmarkets open higher but fall back after BOK and Australian jobs data
- Gold rallies $20 after sharp overnight falls
The AUD has again been the main mover, though this time the move was down. AUD/USD fell 50 pips immediately after quite disappointing jobs data. It traded in a 1.0627/57 range before the data and then immediately fell to 1.0575 before steadying. Ranges: 1.0570/1.0657
EUR has been fairly quiet ahead of tonight’s ECB meeting. It has gradually drifted lower alongside the AUD and as risk sentiment veered off. 1.4050/95
USD/JPY again ignored the worse than expected economic data. Some talk in the market that Japanese corporates have raised their sell orders, raising the possibility of blooming intervention. Ranges: 77.19/42
Cable has tracked the EUR quietly, ahead of tonights BOE, trading 1.5947/89
USD/CHF .8571/97
