XE Market Analysis: Europe – Aug 15, 2019

The Aussie Dollar rallied on Australian employment data, which expanded by 41k, well up on the median forecast for a 14k rise and with full-time positions making up a solid 34.5k of the total. Despite a 2.8% closing loss in the local ASX equity index, which markedly underperformed other Asian indexes, the data catalyzed a short-covering reaction in the forex market, lifting the recently heavily shorted AUD-USD pairing and AUD-JPY cross. The former rose by just over 30 pips in making an intraday high at 0.6788 before losing steam, leaving yesterday’s peak at 0.6797 untested.

Source: XE news feed
XE Market Analysis: Europe – Aug 15, 2019