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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.