Steven Dooley, head of research at ForexCT, reckons there’s a chance of big upside gains in the Aussie dollar if today’s job numbers are strong.
“Employment numbers have beaten expectations in seven of the last nine monthly releases. If they come through with a surprise upside again then there is every chance the dollar could break through the crucial $US1.06 level.
In a release this morning, he said that if the dollar was to break through $US1.06 it could then go on to test new highs.
“If the local employment numbers come to the party and the dollar breaks through $1.06 then the next major target will be $1.10, which is a level we haven’t seen since August 2011”, Mr Dooley said.
What do you think? Is $US1.10 a bit optimistic in the short to medium term?
“Employment numbers have beaten expectations in seven of the last nine monthly releases. If they come through with a surprise upside again then there is every chance the dollar could break through the crucial $US1.06 level.
In a release this morning, he said that if the dollar was to break through $US1.06 it could then go on to test new highs.
“If the local employment numbers come to the party and the dollar breaks through $1.06 then the next major target will be $1.10, which is a level we haven’t seen since August 2011”, Mr Dooley said.
What do you think? Is $US1.10 a bit optimistic in the short to medium term?
Read more: http://www.smh.com.au/business/markets-live/markets-live-gains-but-not-gangbusters-20130117-2cuku.html#ixzz2IBdgQvxv
