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 was outstanding in November, posting a gain 42.7 thousand crushing the estimate of 15.2 thousand. The estimate for the December reading is a modest 5.3 thousand. Will the indicator again surprise the markets and beat the forecast? Sentiment and Levels The Australian dollar enjoyed strong gains last week, but this could be a temporary reprieve as the US economy continues to outperform that of Australia. As well, the RBA wants to see the Australian trade closer to the US 75 cents level. The US economy continues to look solid and recent employment numbers have been strong. So, the overall sentiment is bearish on AUD/USD towards this release. Technical levels from top to bottom: 0.8550, 0.8466, 0.8312, 0.8150, 0.8013 and 0.7978. 5 Scenarios Within expectations: 2.0K to 8.0K: In this scenario, AUD/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 8.1K to 12.0K: A strong reading could push the pair above one resistance level. Well above expectations: Above 13.0K: A sharp rise in employment numbers could propel AUD/USD upwards, and two or more resistance lines could be broken. Below expectations: -2.0K to 1.9K: A lower than expected reading could pull the pair downwards, with one support level at risk. Well below expectations: Below -1.0K: 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 USD/CAD breaks above 1.20 as oil remains low 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 was outstanding in November, posting a gain 42.7 thousand crushing the estimate of 15.2 thousand. The estimate… 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.
