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Aussie little changed after mixed Australian job figures

Thursday, Sep 15 2016

Australia’s August employment data today unveils a big miss to the downside with a fall of 3,900 jobs (seasonally adjusted) against expectations of a rise of 15,000. The breakup of the data was slightly more encouraging at the margins, with the Australian Bureau of Statistics (ABS) saying that full-time jobs rose 11,500 while part-time jobs fell 15,400.

Showing the difficulty in reading the data the unemployment rate dipped to 5.6% from 5.7% previously. That’s a result of the fall in participation rate, the number of people who say they are in the workforce, from 64.9% to 64.7% Further complicating the read on the data the ABS said that total hours worked in the economy fell by 0.2%, 3.9 million hours, during the month of August. In many ways that mitigates the positive from the shift from part-time to full-time in this month’s data.

 

Aussie is currently being traded around 0.75 handle. Pair is likely to find support around 0.7450 and resistance above 0.7530 level.

More in this category: « US Import Prices fell by 0.2% UK Retail Sales decreased by 0.2% »

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