The highly anticipated Australian labour market data has been released, boosting the Aussie to new cycle highs. Employment was expected to have risen by just 50k, driven by Victoria, but that has been smashed and the unemployment has also improved slightly. Aussie jobs key data points AUSTRALIA NOV EMPLOYMENT +90.0K S/ADJ (REUTERS POLL: +50.0K) 16-Dec-2020 18:30:01 – AUSTRALIA NOV UNEMPLOYMENT RATE +6.8 PCT, S/ADJ (REUTERS POLL: +7.0) 16-Dec-2020 18:30:01 – AUSTRALIA NOV FULL-TIME EMPLOYMENT +84.2K S/ADJ 16-Dec-2020 18:30:01 – AUSTRALIA NOV PARTICIPATION RATE +66.1 PCT, S/ADJ (REUTERS POLL: +66.0 PCT) AUD/USD Update AUD/USD was somewhat capped by the Fed overnight in a less dovish than expected outcome, although the bulls have not thrown in the towel just yet in pursuit of fresh cycle highs which were made on the data to 0.7587. The improvement in risk sentiment has prompted some short-trimming effect on AUD which may underpin spot while the DXY melts away to fresh lows below the prior days low of 90.42. There is still some room for USD net shorts to increase before aggregate positioning reaches the -18% lows seen in late September. The CRB index (commodities) also points to higher highs in support of the Aussie. More to come… Editor’s notes Australian Employment Preview: Positive surprise despite tepid forecasts Australia is expected to have added 50,000 new jobs in November. RBA Minutes showed that the country has a “significant amount” of spare capacity. AUD/USD is consolidating at two-year highs and poised to extend its rally. Description The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish). 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 AUD/JPY: Bulls battle 78.50 on surprisingly welcome Aussie jobs report FX Street 2 years The highly anticipated Australian labour market data has been released, boosting the Aussie to new cycle highs. Employment was expected to have risen by just 50k, driven by Victoria, but that has been smashed and the unemployment has also improved slightly. Aussie jobs key data points AUSTRALIA NOV EMPLOYMENT +90.0K S/ADJ (REUTERS POLL: +50.0K) 16-Dec-2020 18:30:01 - AUSTRALIA NOV UNEMPLOYMENT RATE +6.8 PCT, S/ADJ (REUTERS POLL: +7.0) 16-Dec-2020 18:30:01 - AUSTRALIA NOV FULL-TIME EMPLOYMENT +84.2K S/ADJ 16-Dec-2020 18:30:01 - AUSTRALIA NOV PARTICIPATION RATE +66.1 PCT, S/ADJ (REUTERS POLL: +66.0 PCT) AUD/USD Update AUD/USD was somewhat capped by the Fed overnight in a less… 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.
