Trade Desk Thoughts - Australia Employment Change

Australia Employment Change Actual 14.6K, Expected 5.0K, Previous 10.9K

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 change in Australia was up 14.6 thousand in August versus analysts expectations of five thousand. Full time employment rose by 7500 and part time by 7200.

Forex Technical Reaction: The Australian dollar has been trading in a narrow 35 pip range since the start of the day. After these releases, price shot up to just below the neutral LFB pivot point at .8011.

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