Aussie jobs report disappoints AUD a touch softer
|Australia’s March labour force survey was released today and the expectations for another strong headline print were not met and AUD/USD was under pressure on the knee-jerk.
Aussie jobs data
Australian Unemployment Rate March: 4.0% (expected 3.9%; previous 4.0%) .
Employment Change March: 17.9K (expexted 30.0K; previous 77.4K).
Full-Time Employment Change: +20.5K vs, the prior was +121.9K.
Part-Time Employment Change: -2.6K vs. the prior -44.5K.
Participation Rate: 66.4% vs. the expected 66.5%, prior was 66.4%.
AUD/USD is pressured as follows:
The price is supported at hourly support but the five-minute chart shows that the price is under some slight pressure and unable to break above. Nevertheless, the jobs market remains solid, so if there is a downside extension to come, it will likely be a grind to the downside offering a bearish structure for traders to position within.
About the Employment Change
This is 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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