Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
16 Mar 2023

AUD/USD scales to 0.6640 on upbeat Australian Employment

  • AUD/USD has stretched its recovery to near 0.6640 on better-than-projected Australian labor market data.
  • RBA Lowe Lowe might continue to target more rates as a higher labor force in action would result in spiking inflation further.
  • Investors believe that the reason behind global banking system failure is the fastest and steepest rate hikes by the Fed.

The AUD/USD pair has extended its recovery to near 0.6640 as the Australian Bureau of Statistics has reported upbeat Employment data. The Australian economy added fresh 64.6K payrolls in February higher than the consensus of 48.5K. In January, the Australian economy reported 11.5K lay-offs. The Unemployment Rate has been trimmed further to 3.5% from the estimates of 3.6% and the prior release of 3.7%.

An upbeat Australian labor market data is going to add to troubles for the Reserve Bank of Australia (RBA), which is designing the roadmap for bringing inflation down. RBA Governor Philip Lowe might continue to target more rates as a higher labor force in action would result in spiking inflationary pressures further.

Earlier, Australian Consumer Inflation Expectations (Mar) data that demonstrate inflation projections for the next 12 months dropped to 5.0% from the consensus of 5.4% and the former release of 5.1%.

Meanwhile, S&P500 futures are showing minimal gains in the Asian session, which could be considered as a dead cat bounce after turmoil on Wednesday. The debacle of Credit Suisse after the Silicon Valley Bank (SVB) collapse has deepened the risk of global banking turmoil. One school of thought believes that the rationale behind global banking system failure is the fastest and steepest interest rate hikes by the Federal Reserve (Fed) and other western central banks.

The US Dollar Index (DXY) is looking to extend its correction below 104.60 as investors are expecting a less-hawkish interest rate decision by the Federal Reserve (Fed), scheduled for next week. After a one-time blip in the United States inflation in January, the US inflation has re-routed south, which has faded the expectations of a severe hawkish stance from Fed chair Jerome Powell.

 

Mar 16, 2023

AUD/JPY pays little heed to upbeat Australia Employment report as yields drop on Credit Suisse fears

AUD/JPY struggles to cheer the upbeat Aussie employment report for February during early Thursday as risk-off mood weigh on the cross-currency pair. E
Read more Previous
Mar 16, 2023

NZD/USD Price Analysis: Keeps pullback from 200-SMA below 0.620

NZD/USD picks up bids to pare intraday losses around 0.6175 during early Thursday. Even so, the Kiwi pair remains down for the second consecutive day
Read more Next