Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.
AUD Moves Lower:
The Aussie dollar is lower by 0.5% despite another solid jobs report yesterday morning. The official unemployment rate dropped to 5.00% from 5.10% as 21,000 new jobs were created in December. Additionally, the November jobs number was revised higher from around 32,000 to 39,000 new jobs. Overall a very good jobs report but not enough to support the Aussie dollar which seems to be more tied to the ongoing China/U.S trade talks.
Equities & Commodities Perform Better:
Aussie equities finished yesterday’s session higher and look set to open higher again this morning following positive sessions in both the U.S and Europe. Commodities prices, in particular iron ore and zinc have continued their good start to the year with Zinc seemingly breaking out of 2018’s yearlong downtrend, while Iron Ore prices are near a three month high.
No economic data is due out tonight, however World Economic Forum meetings continue through this evening.
AUD EXCHANGE RATES:
AUD/USD – 0.7064
AUD/GBP – 0.5400
AUD/EUR – 0.6240
AUD/NZD – 1.0444
AUD/JPY – 77.425
USD/BTC – $3,549
All Ords (XAO) – 5,930
Gold – A$1,806/oz
Silver – A$21.60/oz
WTI – US$53.16/barrel
DATA RELEASES TODAY:
ALL – World Economic Forum meetings continue
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