Aussie Unemployment report overview
Early Thursday at 00:30 GMT sees a data dump for Australia, with the key readings being Aussie Unemployment and Participation Rates, both distributing numbers for October. The Unemployment Rate is supposed to tick up slightly to 5.1% after the previous month’s peak 65.5.
How could it affect the AUIDUSD
With the US Dollar taking a much-needed break from broad-market bidding pressure, the AUD is trading begrudgingly higher, and today’s Aussie action will swing entirely based on the early-Thursday data.
Key notes
AUD/USD: Australian dollar broke through 0.72365 resistance; AU employment data at 11.30 hrs
AUD/USD analysis: Australian employment taking center stage
About the Australian Unemployment Rate
The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD
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