Aussie Employment Report
The AUDUSD fell by 50 pips initially as the Aussie employment report showed a loss of -29.3K jobs versus the estimate of a 10K increase. However the currency has quickly recovered as a look at the details revealed the loss was driven mostly by a loss of part-time jobs following the holiday season. The details of the release are as follows:
- Employment Change – Survey:10K Actual:-29.3K Prior:-6.3K
- Unemployment Rate – Survey:5.3% Actual:5.2% Prior:5.3%
- Full Time Change – Survey:18.8K Actual:24.5K Prior:-39.9K
- Part Time Change – Survey:-8.8K Actual:-53.7K Prior:33.6K
The Aussie wedge we reviewed yesterday continues to hold.





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