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Tuesday, March 9, 2010

Australia Employment Change 03/10/2010

by Henry Liu on March 9, 2010

7:30pm (NY Time) AU Employment Change    Forecast 15.3K    Previous 52.7K
ACTION: AUD/USD        BUY 45K         SELL -15K

We’ll be focusing on the Australian Employment Change release today as this news release is similar to US Nonfarm Payroll Changes, but for Australia.  This release is considered as a high impact report as the job’s market have a direct influence over the entire economy, which in turn affects inflation, and inflation will affect future RBA monetary policy.  If the actual release is better, it would be good for AUD and we would be looking to BUY AUD/USD, if the actual release is worse, it would be bad for AUD and we should be looking to SELL AUD/USD.

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RBNZ Official Cash Rate Decision 03/10/2010

by Henry Liu on March 9, 2010

3:00pm (NY Time)  RBNZ Rate Decision   Forecast 2.50%    Previous 2.50%
ACTION: NZD/USD        BUY 2.75%     SELL Unchanged

RBNZ Official Cash Rate Decision 03/10/2010 225px Alan Bollard cropped MPS2008 06 05 10 14 57 RBNZ is expected to keep rates unchanged at the current level of 2.50% in this meeting, as unanimously agreed by all economists surveyed from different news media companies.  As a matter of fact, aside from the bullish statement and hawkish tone during previous RBNZ rate statements from Governor Bollard, there seems to be no other fundamental reasons supporting a rate hike for NZD in the near future.

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