Australia Employment Change Much Higher Than Forecasted

Australia Employment Change Actual 1.8K, Expected -20.6K, Previous 1.2K

Release Explanation: 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.

Trade Desk Thoughts: Employment in Australia increased by 1.8K for February which is above expectations of 20.6K decrease. Full time employment decreased by 53.8K to 7,664K while part time employment increased by 55.6K to 3,146K.

Forex Technical Reaction: The aussie was on a downward trajectory immediately before this release. The pair had easily slid below the neutral pivot point, but has bounced back with vigor as the employment data was released.

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