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. Update: Australia enjoys jobs gain of 24.1K – AUD/USD rises from the abyss Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 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 looked awful in September, with a reading of -29.7 thousand. This surprised the markets, which had stood at 17.6 thousand. The markets are expecting a strong turnaround, with a forecast of 10.3 thousand. Sentiment and Levels The US dollar has benefited from a US economy which continues to expand at an impressive clip, led by a strong GDP and excellent consumer confidence numbers. With the Fed giving the economy a thumbs up and concluding QE last week, the next move is a rate hike in 2015. Down Under, the RBA made no move with interest rates, and this week’s key numbers will have to be strong if the Aussie hopes to hold its own against the US dollar. So, the overall sentiment is bearish on AUD/USD towards this release. Technical levels from top to bottom: 0.9185, 0.90, 0.8891, 0.8750, 0.8660 and 0.8550. 5 Scenarios Within expectations: 7.0K to 15.0K: In this scenario, AUD/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 15.1K to 19.0K: A strong reading could push the pair above one resistance level. Well above expectations: Above 19.0K: A sharp rise in employment numbers could propel AUD/USD upwards, and two or more resistance lines could be broken. Below expectations: 3.0K to 6.9K: A lower than expected reading could pull the pair downwards, with one support level at risk. Well below expectations: Below 3.0K: A very poor reading will likely hurt confidence in the Australian economy and AUD/USD could break two or more support levels. For more on the Aussie, see the AUD/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”9ff4533a-0a0d-467e-af83-7e703f76777c”/] 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 Australia enjoys jobs gain of 24.1K – AUD/USD rises from Yohay Elam 8 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. Update: Australia enjoys jobs gain of 24.1K - AUD/USD rises from the abyss Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 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 looked awful in September,… 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.
