Australia’s job market gained jobs for a third straight month, beating expectations once again. These results pushed AUD/USD higher, after being blown by the American Non-Farm Payrolls on Friday. The Australian and American fundamentals continue to remain very different. Image credit: Martin Kingsley on Flickr Australian employment change came out far better than expected: a rise of 31,200 jobs, instead of 5,300 net gains that were expected. This is 6 times the early expectations. This adds to last month’s rise of 27,200 jobs. This figure was revised upwards from the initial release. Also the previous month saw a big gain, of 40,000 jobs. Also the unemployment rate surprised economists: it fell from 5.8% to 5.7%, while it was expected to tick up to 5.9%. All these numbers show great strength for the Australian economy, and set the path for another rate hike – the fourth in a row, in the next RBA meeting. The Aussie gained on this release: AUD/USD rose from 0.9090 to 0.9160 instantly, and held these gains. The Aussie also gained against other currencies. The Australian dollar was one of the “victims” of the recent American Non-Farm Payrolls report, which sent the greenback up across the board. The high yielding, carry-traded Aussie was abandoned on the good American data. This report from Australia puts things in proportion once again. The US is losing jobs for almost two years. No gains were reported – only a smaller-than-expected loss of jobs. Unemployment rate in the US fell back to…10%, while Australia’s rate is under 6%. The Non-Farm Payrolls also created hopes for a rate hike in the US. These hopes were shattered in Bernanke’s speech on Monday. Australia’s interest rate is at 3.75%, and expected to rise soon, not at an extended period of time. I continue to be bullish on the Aussie. It’s summertime in the land down under… Trade together with Currensee Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next Forex Daily Outlook – December 11th 2009 Yohay Elam 13 years Australia's job market gained jobs for a third straight month, beating expectations once again. These results pushed AUD/USD higher, after being blown by the American Non-Farm Payrolls on Friday. The Australian and American fundamentals continue to remain very different. Image credit: Martin Kingsley on Flickr Australian employment change came out far better than expected: a rise of 31,200 jobs, instead of 5,300 net gains that were expected. This is 6 times the early expectations. This adds to last month's rise of 27,200 jobs. This figure was revised upwards from the initial release. Also the previous month saw a big gain,… 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.