Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one of the most important leading indicators of overall economic activity. Thus, the release of Employment Change is a market-mover which can affect the movement of AUD/USD. Employment Change posted an excellent gain of 17.9 thousand in May, well above the estimate of 14.9 thousand. The markets are expecting a softer reading in the June report, with a forecast of 10.1 thousand. Sentiment and Levels In the US, monetary policy is not expected to be hawkish and a rate hike appears doubtful. The markets will have to deal with the new Brexit reality, and continuing instability in the markets could weigh on the Aussie. So, the overall sentiment is neutral on AUD/USD towards this release. Technical levels from top to bottom: 0.7930, 0.7835, 0.7692, 0.7597, 0.7438 and 0.7334 5 Scenarios Within expectations: 7.0K to 13.0K: In this scenario, AUD/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 13.1K to 17.0K: A stronger reading than expected could push the pair above one resistance level. Well above expectations: Above 17.0K: In this scenario, AUD/USD could break above two or more resistance lines. Below expectations: 4.0 to 6.9K: A lower than expected reading could pull the pair downwards, with one support level at risk. Well below expectations: Below 3.9K: A soft reading will likely hurt confidence in the Australian economy, and AUD/USD could break below two or more support levels. For more on the Aussie, see the AUD/USD forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next GBP Into BoE: Any Bounce A Selling Opportunity – BofA Yohay Elam 6 years Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one of the most important leading indicators of overall economic activity. Thus, the release of Employment Change is a market-mover which can affect the movement of AUD/USD. Employment Change posted an excellent gain of 17.9 thousand in May, well above the estimate of 14.9 thousand. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
