"This is an encouraging sign and is consistent with a number of similarly forward-looking indicators that point to some near-term improvement in employment growth and stabilisation in the unemployment rate," said ANZ chief economist Warren Hogan. "Our broad assessment is that labour market conditions have improved but growth headwinds over the next few years will likely limit the prospects for any material improvement ," he concluded,
However, Aussie was pushed lower after China trade balance figures for November showed surplus of $ 54.47 billion, beating expectations on $43.95 billion surplus. But, exports for December were 4.7%, missing forecasts in 8% increase, while imports also missed predictions on 3.8% incline and fell by 6.7%, what is of course negative for Aussie as China is first Australian trading partner.
Aussie is currently being traded around 0.8280 level. Pair is likely to find support around 0.8260 and resistance above 0.8320 area. Rest of the session should be a steadier one since there will be no major data releases.
Last modified on Tuesday, 09 December 2014
