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The US Non-Farm Payrolls have the strongest impact on pair not involving the dollar: EUR/AUD.

The rise of commodity currencies and the drop of majors, especially the troubled euro, are sending EUR/AUD to 1.22 – a new all time low.

The US printed superb Non-Farm Payrolls: a gain of 243K jobs, and a drop in the unemployment rate to 8.3%. This triggered risk appetite with commodity currencies.

Australia, New Zealand and espcially Canada are better prepared for US and global growth. European currencies are in a different boat: their economies are struggling.EUR/AUD Record Low February 3 2012

The main driver for their gains against the dollar was Bernanke’s lower for longer pledge: no hikes till late 2014 and the hints about QE3.

His concerns about the high unemployment were echoed in his testimony.

Well, unemployment is now lower.

As things are looking better, the QE3 hot air left the euro balloon. Yet the hope of growth helps the Aussie.

This move sends EUR/USD below an earlier low of 1.2240 to a new low of 1.2187 before  stabilizing. The actual plunge began from higher ground 1.2320, and the chart is very impressive.

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