AUDUSD: Australia’s unemployment rate fell to a lower-than-expected seasonally adjusted 5.1% in January from 5.2% in December, while the number of employed rose 46,300. Economists on average had expected an unemployment rate of 5.3% in January, with the number of employed up 10,000.
The Australian dollar gained steadily in Asian trading Friday, helped by reassuring comments from Chinese leaders about the debt situation in Europe.
We expect a range for today in AUDUSD rate of 1.0700 to 1.0800 (Yesterday, we avoid trading)
We set SHORT order for AUDUSD above 1.0800
Stop loss at 1.0860
Target at 1.0730 and 1.0680
EURUSD: The euro traded at a three-week low against the dollar and slipped below the psychologically significant $1.30 level Thursday as Greek confusion and bank-rating fears created a toxic mix for the currency.
The selloff started Wednesday, after European finance ministers failed to come to an agreement about Greece’s latest bailout package. A decision by Moody’s Investors Service Inc. to place 114 European financial institutions on review for downgrade early Thursday threw fuel on the fire.
We expect a range for today in EURUSD rate of 1.3080 to 1.3160 (We got hit by stop loss before the pair shooting up)
We avoid trading the pair today!
USDJPY: The Federal Reserve’s action to provide emergency access to dollar funding for foreign central banks has helped ease market strains, but the situation will only be resolved if European officials follow through on plans to address their debt troubles
Ultimately, the easing of strains in U.S. and global financial markets will require concerted action on the part of European authorities as they follow through on their announced plans to address their fiscal and financial difficulties. Still, many financial institutions continue to find dollar funding difficult and costly to acquire, given continuing uncertainty in Europe
We expect a range for today in USDJPY rate of 78.50 to 79.30
We SHORT USDJPY at 78.90 ranges
Stop loss at 79.30
Target at 78.60 and 78.40
