AUD retraces earlier gains after jobs data

The unemployment rate fell slightly but the economy created less jobs and the AUD/USD has given back all of its earlier gains to sit back at opening levels near .8990. The big levels to watch are still .8920/.9050 and everything in between can be considered noise.

Chinese trade data due out shortly I believe.

  1. Actually, australian economy didn┬Ęt created fewer jobs but lost about 10,000 jobs in july. Beware of a bias in favour of AUD. It looks very dangerous in these times.

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