AUD/USD continues to bump around lows since 2009. The rebound in Australia’s unemployment rate has not reversed the pace for a decline in the pair, economists at Westpac Institutional Bank report. Key quotes “The rebound in Australia’s unemployment rate to 5.3% in January adds to the case for AUD/USD rallies to be very fragile.” “Price action remains orderly, but the pace of AUD/USD decline has picked up. The RBA’s clear message that rate cuts are unlikely near term helped A$ crosses in the first half of February, but AUD has underperformed over the past week.” “Market pricing for another rate cut remains <50% by May but if the incoming data from across Asia continues to reveal deepening economic damage, the drumbeat for easing should pick up.” “Real money A$ shorts on CME are already large, so a dramatic fall seems unlikely, but some trade with a 0.65 handle looks to be in sight near term.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD: Further fall to the low 0.63s – Westpac FX Street 2 years AUD/USD continues to bump around lows since 2009. The rebound in Australia’s unemployment rate has not reversed the pace for a decline in the pair, economists at Westpac Institutional Bank report. Key quotes “The rebound in Australia’s unemployment rate to 5.3% in January adds to the case for AUD/USD rallies to be very fragile.” “Price action remains orderly, but the pace of AUD/USD decline has picked up. The RBA’s clear message that rate cuts are unlikely near term helped A$ crosses in the first half of February, but AUD has underperformed over the past week.” “Market pricing for another rate… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
