aud usd

AUDUSD edges lower before employment data

The Australian Dollar is holding its breath around the .9280 zone awaiting some NAB business confidence data today and Westpac consumer sentiment data tomorrow. The employment data, which is expected Thursday, is expected to see a increase in employment change by around 12K jobs and an unemployment improvement to 6.3%. Whilst we do not engage in speculative trading we see a short term bear here based on the strength of the USD against the EUR and GBP. Trading short should be acceptable until Thursday on the AUDUSD.

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