Australia Employment Change Data
Australia is going release job data due tomorrow at 0130 GMT/0700 IST. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. This time markets have predicted lower than previous job data and higher than previous unemployment rate too. In short, markets have expected negative job data. Markets have expected -40.0K jobs vs 114.7K previous release and expected unemployment rate to come around 7.7 vs 7.5 pct previous release.
Let’s see how AUD has reacted during the previous data release:
AUD/USD: The Aussie rises gradually on Wednesday and remains well supported above $0.73 mark. The pair made intraday high at $0.7343 and low at $0.7288 marks. On the top side key resistances are seen at $0.7340, $0.7370, $0.7422, $0.7462 and $0.7502 mark respectively. On the other hand, a consistent close below $0.7287 will take the parity down towards key supports around $0.7212, $0.7190, $0.7158, $0.7123, $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respectively.
Take a look and do trade wisely!