Forex: AUD/USD reverses daily advance after US jobs data

The AUD/USD tumbled to fresh daily lows, reversing its intraday advance, as the greenback rose sharply on the back of a much better-than-expected US jobs report. The US economy added 236,000 new jobs in February, against 160,000 expected, while the unemployment rate fell to 7.7% from 7.9% in January.

AUD/USD dropped nearly 50 pips on the data and touched a low of 1.0229 before finding support at the 200-hour SMA. At time of writing, AUD/USD is trading around 1.0235, where it is 0.3% below its opening price.

Mar 8, 2013

Commodities Brief – Precious metals decline sharply following upbeat US payroll and employment data, crude prices held in check

Gold prices have collapsed in recent moments after what could be described as a tepid European session. However, following the release of very upbeat US data, which saw Nonfarm Payrolls in February climb to 234K and Unemployment drop to 7.7%, the yellow metal found itself under siege, dropping to USD $1566.70 per oz. in these moments. This represents a minor bounce off the knee-jerk induced lows of 1560.95.

Canada: Unemployment remained at 7.0% in February

The Canadian jobless rate during February matched January’s at 7.0, bettering estimates at 7.1%....