AUD/USD consolidates below 0.78 handle post jobs and FOMC
|- AUD/USD: is virtually unchanged on the Aussie jobs.
- Jobs data: Australia jobs report (February) Employment Change +17.5K (vs. expected +20.0K)
The Aussie jobs data has been released where markets were looking for a 20,000 rise in total employment and for the unemployment rate to hold at 5.5%, just above 5-year lows. Currently, AUD/USD is trading at 0.7764, down -0.01% on the day, having posted a daily high at 0.7787 and low at 0.7762.
Aussie jobs data
The seasonally adjusted data was interesting while the headline was a minimal small miss vs the expected. The participation rate at 65.7% was higher than the expected 65.6%, prior was 65.6%. This made for a higher unemployment rate, that as such as reasoned with at 5.6% vs 5.5% consensus and prior. Part-time employment was -47.4k vs prior 65.6k. All in all, not a bad set of data that continues to impress in terms of growth.
AUD/USD levels
The focus remains on the dollar at the moment, with the outcome of the FOMC. Overnight, the Aussie was down at 0.7680 at one stage before shorts were covered ahead of the FOMC event taking the Aussie back to 0.7720. 0.7780 was hit on the outcome before closing back at 0.7764, better bid. There is scope to 0.7800, 15th March highs, with a run to 0.7820 (200-4hr SMA). 0.7650 meets the rising daily trend line on the flip side with 0.7700 an import level on the hourly charts.
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