Aussie Jobs Data AUDUSD Impact Analysis


When are Aussie jobs data report and how could they affect AUDUSD pair? Get an overview of this on the Aussie Jobs Data AUDUSD Impact Analysis.

15 February, GKFX – Australia’s monthly jobs report is back on the cards for Asian markets today. The report will be released at 12:30 GMT.

Following an outsized gain of 62k in November and the rise of 3.4%y/y in Dec when another 34.7k net new jobs were reported for December, Australia’s December labour force survey is eagerly anticipated once again.

“It is very difficult to sustain such a pace – GDP probably only grew about 2.5% over the same period. So a negative reading on employment is a risk at any time, simply as a statistical correction.

But with various other indicators of the job market still positive, Westpac’s +15k forecast is in line with consensus. The unemployment rate seems likely to remain at 5.5%. The 5.4% reading of Oct and Nov 2017 was the lowest since 2013,”

explained analysts at Westpac.

Keynotes

AUD/USD up 0.87% yesterday, treading water near the high mark ahead of Aussie employment figures

Forex todaywhat a day, the start of the demise of the dollar?

Aussie Jobs Data AUDUSD Impact Analysis

AUD/USD opened near 0.7870 for the NA session where there was a lot of volatility after the retails sales miss and the CPI beat. The Aussie was set to clear the Feb 6th highs before a look in at 0.7920 towards the close and now 0.7980 and 0.8065 are back on the cards on a strong report with daily RSI that has plenty of room to the upside to go. To the downside, the 200-D SMA at 0.7764 is key target below 0.7800.

About Aussie jobs data

The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).

Disclaimer

This article Aussie Jobs Data AUDUSD Impact Analysis was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

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