Forex Flash: Australian jobs still hanging in there; RBA to hold in March - NAB

The Australian unemployment rate was steady at 5.4% in January, helped by a 0.1% dip in the participation rate to 65.0%, notes NAB economists. "Employment is still growing, up 10k in Jan, up 0.9% y/y, with gains somewhat flattered by part-time skew" the bank point. NAB believes this report "tips the balance back toward RBA on hold in March."

Feb 7, 2013

Forex Flash: Rally on Yen crosses approaching capitulation - RBS

The risks of a fall in EUR/JPY remains significant, says Greg Gibbs, currency strategist at RBS. The rally in USD/JPY, in view of Greg, "also feels close to complete for now."

Forex: Kiwi prints fresh 1-week lows still above 0.8350

NZD/USD is currently at 0.8360 bids, off recent session and 1-week lows at 0.8350, following first weak NZ jobs data and second Aussie jobs report. NZ unemployment rate fell to 6.9%, more than the expected 7.1% which was a good new, but market participants did not like it did come with a lower participation rate at 65%, and quarterly employment growth at -1%.