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ANZ Job Advertisements fell 0.8%

Monday, May 09 2016
Job advertisements fell 0.8% m/m in April and remain broadly unchanged since October last year. In trend terms, ads fell for the third consecutive month, down 0.2% m/m in April. The number of internet job ads fell 0.7% m/m in April and the more volatile newspaper component dropped 6.2% m/m.
Over the weekend, Trade Balance figures were released. Trade figures out of China on Sunday were clearly disappointing. Both exports and imports fell more than expected last month, underlining weak demand at home and abroad and dimming hopes of a recovery in the economy. Yet, the Australian dollar, often used as a liquid proxy for China plays, managed to shrug off the data. 
 
Aussie is currently being traded around 0.7370 area. Pair is likely to find support around 0.7330 handle and resistance above 0.7430 level. There will be no data releases later today.
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