9 Jan 2015
AUD/JPY turning south on US wage growth dissapointments
FXStreet (Guatemala) - AUD/JPY has started to erase the gains of the spike from 96.95 up to the highs of 97.66 and is currently trading at 97.30, up 0.24% on the day.
AUD/JPY has fallen on Yen strength with US stocks lower across the board while the Nonfarm Payrolls report offered a mixed outlook for the US economy. While the headline print in its self was slightly better than forecasted, at 252K vs a 240K consensus while adding substantial upward revisions to the previous months’ data, the hourly earnings arrived a real disappointment.
Rob Carnell, analyst at ING Bank said, "Just when it looks as if the US is about to see a step up in the wages figures, not only do you get a weak figure (-0.2%mom) but large revisions to past data, and the wages growth rate has plunged back to 1.7%YoY from 1.9% (2.1% unrevised last month)".
AUD/JPY has fallen on Yen strength with US stocks lower across the board while the Nonfarm Payrolls report offered a mixed outlook for the US economy. While the headline print in its self was slightly better than forecasted, at 252K vs a 240K consensus while adding substantial upward revisions to the previous months’ data, the hourly earnings arrived a real disappointment.
Rob Carnell, analyst at ING Bank said, "Just when it looks as if the US is about to see a step up in the wages figures, not only do you get a weak figure (-0.2%mom) but large revisions to past data, and the wages growth rate has plunged back to 1.7%YoY from 1.9% (2.1% unrevised last month)".