Search ForexCrunch

Australia gained 26.1K jobs in March, better than around 20K expected and the downwards revised 0.7K jobs lost in February. In addition, the unemployment rate fell from 5.8% to 5.7%, defying expectations for a rise, but this came  alongside a disappointing participation rate: it remained at 64.9% instead of rising to 65% as expected.

All in all, this is a  positive report that helps keep the Aussie bid, while the  greenback is showing some strength across the board. AUD/NZD stands out with gains.

The full time / part time division of the report looks less positive: full time employment dropped 8.8K and the gain was built on part-time jobs: 34.9K this time. Nevertheless, this is the lowest unemployment rate since 2013. The Australian Bureau of Statistics did note that the trend is not as strong as in late 2015.

The Australian dollar enjoyed a positive market mood, partially inspired by the beat in  Chinese trade data. However, the US dollar regained some strength and made its way back up across the board, despite weak retail sales in the US. After AUD/SD almost reached the high of 0.7725, it retreated but did managed to hold above the round 0.76 level.

Here is how it looks on the chart:

AUDUSD April 14 2016 stable on AUD jobs