Australia Employment Change

Actual 10.9, Expected 4.5K, Previous 29.8K

Release Explanation: Employment in Australia increased by 10,900 in July. Full-time employment increased by 53,700, and part-time employment decreased by 42,800. This trend has been increasing since July of last year

Trade Desk Thoughts: This report tracks the number of employed in Australia. The figure appears in the monthly Labor Force Survey conducted by the Australian Bureau of Statistics. A surge in new employment suggests higher spending potential and budding inflation pressures, which the RBA often counters with rate increases.

Forex Technical Reaction: The aussie has weakened slightly after this news release. It was rejected at TheLFB neutral pivot point at .9118. The pair also found resistance at its 200 day SMA situated at .9200.

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