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Australia's currency climbed after the nation's statistics bureau said payrolls increased by 46,300 last month, the most since November 2010. The median estimate of a gain of 10,000 jobs. The unemployment rate slid to 5.1 percent, whereas analysts had forecast an increase to 5.3 percent.
Fueled by demand for resources an eventual upside break out is anticipated, for a new high above 1.1079, bad news from Greece this week could pull the AUD back to the 1.05 range and would make for good buying there.
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) -7,874,801,390.00 2/14/12 week 2/7/12 week Long 93,866 94,332 Short 20,125 19,237 Net 73,741 75,095
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. www.livetradingnews.com