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Date Posted: 01:23:17 04/12/12 Thu
Author: Charisse Bartoli
Subject: Aussie rockets on strong employment data

This morning the Australian dollar is the stand out performer following better than expected employment change and unemployment data. With is strong reliance on China, the Australian data is often seen as a proxy for assessing the health of the emerging powerhouse, therefore the wider markets have received a boost as well.

The AUD/JPY is up 1.06%, with the AUD/ USD not far behind, up 0.88%.  The other commodity pairs are also receiving a boost with the NZD/USD up 0.45% and the USD/CAD down 0.34%. The NZD/USD remains range bound at the moment though. The yen pairs are the biggest movers overall, this time to the upside with the EUR/JPY up 0.41%. The EUR/USD is also up 0.23% after bouncing off support around 1.0303.

Today's economic calendar kicks off with the ECB monthly bulletin at 09.00, with industrial production following at 10.00. UK trade balance of the figures come out at 09.30.  We switch to North America at 13.30 with Canadian and US  trade balance numbers at 13.30. US trade balance numbers are expected to ease slightly. US PPI and unemployment claims are also released at the same time with unemployment claims expected to improve slightly.

The NZD/USD has been stuck in a trading range in recent weeks, with the pair struggling to put more than two bullish days together in a row. With resistance overhead and the eurozone crisis still far from resolved, there could be room for downside here despite the firm Australian employment data.

A good way to play this on BetOnMarkets.com might be LOWER trade predicting that the NZD/USD closes below 0.8175 in 1 days time for a potential return of 193%.

Get this trade now, go to:  http://goo.gl/k9JGR

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