TRENDING:

XAU/USD

EUR/USD

Australia jobless rate ticked higher in April, job additions beat estimates

Omkar Godbole FXStreet Contributor

The Australian economy added 22.6K jobs in April, still, the unemployment rate ticked higher to 5.6 percent from the previous month's reading of 5.5 percent, the Australian Bureau Statistics (ABS) data showed.

Economists were expecting employment change (job additions) of 20K vs downwardly revised -0.7K in March.

April Key Points

Trend Estimates (Monthly Change)

Employment increased 13,800 to 12,505,200.
Unemployment increased 1,400 to 733,300.
The unemployment rate remained steady at 5.5%.
Participation rate increased by less than 0.1 pts to 65.7%.
Monthly hours worked in all jobs increased 4.7 million hours (0.27%) to 1,749.4 million hours.

Seasonally Adjusted Estimates (Monthly Change)

Employment increased 22,600 to 12,501,000. Full-time employment increased 32,700 to 8,543,400 and part-time employment decreased 10,000 to 3,957,700.
Unemployment increased 10,600 to 741,000. The number of unemployed persons looking for full-time work decreased 17,100 to 506,100 and the number of unemployed persons only looking for part-time work increased 27,600 to 234,900.
The unemployment rate increased by 0.1 pts to 5.6%.
Participation rate increased by 0.1 pts to 65.6%.
Monthly hours worked in all jobs increased 19.4 million hours (1.11%) to 1,764.0 million hours.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

GBP/USD bounces off lows, back above 1.3200

After bottoming out near 1.3160, GBP/USD manages to regain a bit of shine and reclaim the 1.3200 mark and beyond at the end of the week. Stronger-than-expected UK Retail Sales data seem to be helping the British Pound limit its losses, while the chaotic UK political environment keeps the bulls at bay for now.

EUR/USD looks consolidative around 1.1460

EUR/USD stages a modest rebound after slipping to a three-month low below 1.1420 at the end of the week. That said, the pair now looks to consolidate humble gains just above 1.1460 despite growing uncertainty surrounding the next round of US-Iran negotiations, which keeps the US Dollar’s downside contained.

Gold slips back to six-day lows, targets $4,100

Gold retreats for the third consecutive day on Friday, eroding gains seen in the first half of the week and approaching the key $4,100 mark per troy ounce. Indeed, the precious metal continues to face headwinds from the Fed's hawkish stance and renewed uncertainty surrounding the next round of US-Iran negotiations.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

The Iran war didn't break the US economy, but what happens next?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

Australia jobless rate ticked higher in April, job additions beat estimates

Broker Reviews

Editor's Picks