AUD/USD Fundamental Forecast – September 16, 2016

The AUD/USD tumbled 10 points after the release of a lackluster jobs report and strength from the US dollar overnight. The Aussie is trading at 0.7461 feeling the weight of the US dollar and the disappointment over jobs numbers which showed a huge drop in employment changes although the unemployment rate dropped to 5.6% against a forecast of 5.7% but it could be a statistical one off.

A respected market analysts said that “However, the unemployment rate ticked lower to 5.6 per cent versus 5.7 per cent, and this allowed the Australian dollar to bounce after the initial drop to 74.50,” he said.

“The internal fundamentals underpinning the numbers were positive, with 11,500 more full time jobs and 15,400 fewer part time jobs. This reversal of some of the full time job losses seen in July also buoyed the Aussie, limiting a sharp fall on the headline numbers.” As reported by AAP.

Despite some soft Q3 data of out the US, there is a reasonable chance that the Fed will raise rates in December, so sentiment towards the greenback remains bullish. Therefore, the overall sentiment is bearish on AUD/USD towards this release.

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 September 16, 2016

Government Bond Auctions

Date Time Country Auction

Sep 15 10:30 Spain 0.75% Jul 2021 Bono, 1.3% Oct 2026 bond & 1.95% Jul 2030

Sep 15 10:50 France Eur 5-6bn 0% Feb 2019 & May 2021 OATs

Sep 15 11:03 Sweden Sek 0.5bn 0.125% Jun 2019 I/L & Sek 0.5bn 4% Dec 2020 I/L

Sep 15 11:50 France Eur 0.75-1.25bn 0.1% Mar 2021 & Mar 2025 OAT

Sep 19 11:00 Belgium Holds OLO auction

Sep 20 11:30 UK Jul 2047 Gilt

Sep 21 10:30 Denmark Holds bond auction

Sep 21 11:03 Sweden Holds bond auction

Sep 21 11:30 Germany Eur 4bn 0% Oct 2021 Bobl

Sep 22 17:20 Italy Announces details of bond auction