Unemployment has no positive changes but remained alarming rate of 10% compared to last time, although the U.S economy showed the signal going up on the occasion of last year. Another news, people's incomes were unchanged (2.2%), consumer credit significantly reduced (in fact:-17.5B, forecast:-5.0B, previous:-3.5B).
These are the reasons why the dollar weakened against other rival currencies. Gold prices increased strongly from 1121 to 1137, followed by 1139.
AUD went up sharply from 0.9146 to 0.9216, up 70 points and continued to created new peak 0.9239, closing at 0.9245. Downward trend has not appeared when the market closed at weekend. Therefore, the uptrend of the AUD will continue early next week when the effects of the U.S. labor market remains gloomy.
The confidence of the USD has turned to AUD, the AUD is expected to change in 0.9200/70 area.
Next week, the market will welcome the information as below:
On January 12, 2010: "home loan" and "Investment lending" of Australia at 0:30; U.S. trade balance in November at 13:30 (forecast: - $ 36.4B, previous: -$ 32.9B).
On January 14, 2010: Unemployment rate in Australia at 0:30, U.S jobless claim, U.S. sales retail and import goods.
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