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- Aussie labour report weighs on AUD to fresh sessison lows
Aussie labour report weighs on AUD to fresh sessison lows
The Aussie labour report, released by the Australian Bureau of Statistics, has been released as follows:
- Australia December Employment -14.6k s/adj (Reuters poll: +22.5k).
- Unemployment rate +3.5 pct, s/adj (Reuters poll: +3.4).
- Full-time employment +17.6k s/adj.
- Participation rate +66.6 pct, s/adj (Reuters poll: +66.8 pct).
The data is a disappointment and is weighing on the Aussie Dollar.
AUD/USD update
AUD/USD broke below the channel support and the data is supporting the case for a continuation. However, should 0.6915 structure hold, then there are going to be prospects of a correction into the bearish impulse with the 0.6970s eyed:
About the Aussie labour report
The key component of the data for markets, 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).
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