When are Australian jobs affected and how could they affect the AUD / USD?

Overview of the Australian Jobs Report (February)

The monthly report on jobs in Australia is back on the charts for Asian markets today, namely 0030GMT. However, the data may not be as positive as the recent one, but a drop in the unemployment rate could give a boost to the AUD and data on the labor force continue to plummet. to be an important positive signal for the economy of the RBA. .

Australia's employment report for the month of December is expected at 11:30 am Syd / 8:30 am Sing / HK. Job creation jumped to 37,000 in November, bringing the annualized 6-month pace to 2.9%. The rotation of the samples, however, seems to have played a role. Westpac looks for results, with a modest 5k increase in total employment (consensus 18k). Our forecast for the unemployment rate, however, is in line with the consensus and has held steady at 5.1%, as a result of a decline in the labor force participation rate following the unexpected November surge.

How could the data affect the AUD / USD?

The AUD / USD is in a correction phase and the flow has become positive with a breakout of the last-highest swing on the hourly chart, but far from being positive on the daily outlook at this point, while struggling to pbad under the Fibo 38.2% retracement of the 2018 decline. Price is borne on 2111 SMA 0.7118, but if that gives, the bears will regain control by seeking a test at 0.71 the figure and considering the anguish of Sino-US trade and various market troubles, it is not far to stretch to take a look at the key support structure at 0.7000 / 20. " Beyond this decline, the market is targeting the peaks of September and early November at 0.7302 / 14 and the 200-day high at 0.7306, where it should be struggling, "said badysts Commerzbank.

Key notes:

About Australian Job Data:

The change in employment published by the Australian Bureau of Statistics is a measure of the changing number of people employed in Australia. In general, an increase in this indicator has positive implications for consumer spending, which stimulates economic growth. Therefore, a high reading is considered positive (or bullish) for the AUD, while a low reading is considered negative (or bearish).