wrapper

Australian Unemployment Rate drops to 5.7%

Thursday, Aug 18 2016

The unemployment rate has dropped to 5.7 per cent, with the Bureau of Statistics estimating that 26,200 jobs were added in July. The headline result was better than the market expected, sending the Australian dollar up around half a cent at one point, to a peak of 77 US cents shortly after the data release at 11:30am (AEST).

The 26 economists surveyed by Bloomberg typically expected 10,000 jobs to be added, leaving unemployment steady at 5.8 per cent. However, the data were not unambiguously positive, with jobs growth entirely driven by part-time employment, while full-time jobs fell. Part-time employment rose by an estimated 71,600, while the number of full-time workers dropped by 45,400.

 

Aussie is currently being traded around 0.7680 area. Pair is likely to find support around 0.76 handle and resistance above 0.77 handle.

More in this category: « FOMC Minutes show split among members UK Retail Sales surprisingly increased by 1.4% »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.