the AUDUSD pair closed higher for the 3rd consecutive day after trading within a tight range for most of the day. Will risk appetite continue to boost the AUD, possibly to another new yearly high? Or will we see a pullback?Nothing is expected today either, so better be on the lookout for reports that are coming out from the Euro zone and US. These reports may cause some volatility during the later sessions so watch out for strong waves that could shake risk sentiment � you dont want to be drifting out to the middle of the Pacific Ocean when you�re trading!

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which was expected to rise to 6.0%, has remained the same at 5.8%. The unexpected 32,200 in additional hires during the period has put a cap on Australia�s unemployment rate. The positive figure came in as a surprise since just last month Australian employers cut about 23,100 jobs. 18,800 were initially expected to lose their work. In July, the number of full-time jobs, however, dropped 16,000 but the number of part-time jobs increased 48,200. In any case, the increase in employment change during the period can be seen as another sign of the economy�s resilience.has just released its monetary policy statement earlier today. The RBA said that it has revised its growth outlook as it now sees its GDP to rise by 0.5% in 2009 before advancing to 1.0% in the year to June 2010. The recent upbeat data suggests that the economy is performing better than expected. According to the RBA, the government�s fiscal stimulus plus the central bank�s monetary easing combined with china�s growth have helped the economy.

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which was expected to widen from 740 million AUD to 790 million AUD, narrowed to 441 million AUD. This unexpected improvement in the nation's trade gap was spurred by the recovery in China, which boosts demand for Australia's natural resources. China, which is a major trade partner of Australia, posted a 7.9% year-on-year growth in the second quarter of this year. The substantial rise in Australia's exports was led by a 17% increase in gold exports. Imports, on the other hand, stagnated. Imports of consumer goods rose by merely 4%. A total of 18.8K jobs are expected to be shed this month, bringing the unemployment rate from 5.8% to 6.0%. If the forecasts are accurate, then the employment reports could put some downward pressure on the AUD. The actual data is due at 1:30 am GMT.

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