Australia will publish this Thursday its August employment data at 01:30 GMT. The country is expected to have lost 50K job positions in August. Meanwhile, the AUD/USD pair is trading near this year high ahead of the event and could near the 0.75 mark on an upbeat report whereas dismal figures may have a limited effect, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “The market expects to see 50K jobs were lost in the month, while the unemployment rate is foreseen at 7.7% from 7.5% in July. This last, however, remains well below the 10% forecasted by the RBA by the year-end.” “The latest coronavirus outbreak seems to be under control in Australia. The country didn’t report new deaths on Tuesday, and encouraging signs as authorities ponder chances of reopening the economy. The damage, however, is done. The market is not only anticipating negative numbers in September but will also expect similar figures in September. Reopening plans for the Victoria region, extend well into November, and that if there are no new outbreaks.” “Should the report beat expectations, particularly with upbeat full-time new jobs, AUD/USD could surge beyond 0.7413 and approach the 0.7500 figure. After the dust settles, speculative interest could take profits out of the table if the prices nears this last, but will likely find a new comfort zone above 0.7400.” “The outcome of the employment report needs to be much worse than anticipated to trigger a sustainable bearish rally. As long as the aussie holds above 0.7191, however, bulls will maintain control.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Prediction: Another BTC bulls massacre on the way – Confluence Detector FX Street 2 years Australia will publish this Thursday its August employment data at 01:30 GMT. The country is expected to have lost 50K job positions in August. Meanwhile, the AUD/USD pair is trading near this year high ahead of the event and could near the 0.75 mark on an upbeat report whereas dismal figures may have a limited effect, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “The market expects to see 50K jobs were lost in the month, while the unemployment rate is foreseen at 7.7% from 7.5% in July. This last, however, remains well below the 10% forecasted by the RBA… 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.