Breaking: Aussie Employment Change actual 75.9k (forecast 17.5k, previous -4.3k), AUD/USD rallies

FXStreet Team FXStreet

The Employment data released by the Australian Bureau of Statistics has fallen in as follows:

Unemployment Rate actual 3.6% (forecast 3.7%, previous 3.7%.
Employment Change actual 75.9k (forecast 17.5k, previous -4.3k).
Participation Rate actual 66.9% (forecast 66.7%, previous 66.7%.
Full-Time Employment change. actual 61.7k (forecast -, previous -27.1k.

AUD/USD update

It has been an eventful time of late for this pair, with the US data, Federal Reserve and Reserve Bank of Australia themes playing into the pair. Today's jobs data is the latest catalyst and the reaction is as follows:

The knee-jerk reaction was a bullish reaction to the prospects of further interest rate hikes from the Reserve Bank of Australia to come. This is a lifeline to the Aussie that was otherwise being forced below the bullish trendline support as follows:

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).

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