The Australian employment change is an important leading indicator which often has a significant impact on the markets. Traders and analysts carefully examine employment figures in trying to determine the health and direction of the economy. 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. The release of the employment change indicator, together with the unemployment rate, is highly anticipated by the markets. If the released figures are better than those forecast, this could give the Aussie a lift against the other major currencies. The employment change indicators in August and September were well below the market forecasts. For October, the forecast is for 10.1K. If this worrisome downward trend continues, and the actual figures are again well below expectations, market reaction is sure to be negative and the Australian dollar could take a beating. Sentiment and Levels The Australian dollar is recovering from a one year low against the US dollar, in large part due to the global slowdown and and a decrease in exports. On the positive side, some major economic indicators posted strong numbers, including retail sales and the trade balance. So, the overall sentiment is neutral on AUD/USD towards this release. Technical levels from top to bottom: 1.0120, 1.00, .9930, .9880, .98 and .97. 5 Scenarios Within expectations: 4K to 18K: In this scenario, AUD/USD could show some slight fluctuation, but it is likely to remain within range, without breaking any levels. Above expectations: 19K to 26K: A reading above expectations would be an indication of expansion in the economy, and could push the pair above one resistance level. Well above expectations: Above 27K: A sharp rise in employment numbers could propel the Aussie upwards, and two or more levels of resistance can be broken. Below expectations: -4K to 3K: A lower than expected reading could pull the pair downwards, with one support level at risk. Well below expectations: Below -4K: Another poor reading will hurt confidence in the Australian dollar, and AUD/USD could break two 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 Forex Daily Outlook – October 13 2011 Anat Dror 11 years The Australian employment change is an important leading indicator which often has a significant impact on the markets. Traders and analysts carefully examine employment figures in trying to determine the health and direction of the economy. 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. The release of the employment change indicator, together with the unemployment rate, is highly anticipated by the markets. If the released figures are better than those forecast, this could give the Aussie… 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.
