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 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 posted an excellent gain of 24.3 thousand in the October release, beating the estimate of 20.3 thousand. The estimate for the November reading is not as strong, with an estimate of 15.2 thousand. Will the indicator again surprise the markets and beat the forecast? Sentiment and Levels US employment numbers were back on track last week, thanks to an excellent jobs report and some wage inflation as well. This should help ease concerns about whether the Fed remains on track for a rate hike in the first half of 2014. Australian numbers remains weak, which is weighing on the wobbly Australian dollar. So, the overall sentiment is bearish on AUD/USD towards this release. Technical levels from top to bottom: 0.8550, 0.8456, 0.8316, 0.8150, 0.8013 and 0.7978. 5 Scenarios Within expectations: 12.0K to 18.0K: In this scenario, AUD/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 18.1K to 22.0K: A strong reading could push the pair above one resistance level. Well above expectations: Above 22.0K: A sharp rise in employment numbers could propel AUD/USD upwards and two or more resistance lines could be broken. Below expectations: 8.0K to 11.9K: A lower than expected reading could pull the pair downwards, with one support level at risk. Well below expectations: Below 8.0K: In this scenario, 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 EUR/USD: 2015 Views & Targets – Deutsche Bank 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. 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 posted an excellent gain of 24.3 thousand in the October release, beating the estimate of 20.3 thousand.… 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.
