Global macro overview for 12/11/2015:
Australia's jobs report for October delivered smashing data. The market expectation of 14.8K job gains were beaten by the real number of 58.6K. Moreover, the unemployment rate has fallen to the level of 5.9% from 6.2% month ago. This is why it might looks like the chances of the Reserve Bank of Australia cutting rates any time soon are dwindling after this data release.
The AUD/USD pair rose 1.5 per cent on Thursday, rallying after the release of the RBA figures. Currently, the market is trading at the level of 0.7131 and the next resistance is seen at the level of 0.7170.