Breaking: AUD/USD rescued on positive Aussie jobs report

The Employment data for Australia has been released by the Australian Bureau of Statistics as follows:

• Australia Employment Change Feb: 64.6K (est 50.0K; prev -11.5K; prevR 10.9K).
• Unemployment Rate Feb: 3.5% (est 3.6%; prev 3.7%) .
• Participation Rate Feb: 66.6% (est 66.6%; prev 66.5%).
• Full-time employment change Feb: 74.9k (prev -43.3k; prevr -42.4k).
• Part-time employment change Feb: -10.3k (prev 31.8k; prevr 31.5k).

AUD/USD update

The Australian and New Zealand dollars were on the defensive on Thursday following the NZ Gross Domestic Product miss and due to the fears for the global banking system.

This data for Australia is a lifeline for the currency that is rallying on the outcome:

About the Employment Change

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).