Australia – Employment Change: +37.4K (vs. expected 5.0K)

Employment Change: +37.4K

• expected 5.0K, prior +45.0K (revised from 42.7K)

Unemployment Rate: 6.1%

• expected 6.3%, prior 6.2% (revised from 6.3%)

Full Time Employment Change: 41.6K

• prior was +2.6K,( revised from +1.8K)

Part Time Employment Change: -4.1K

• prior was +40.8K

Participation Rate: 64.8 %

• expected is 64.7%, prior was 64.7%

–

To the extent that the employment data is reliable (and there have been problems with it in mid to late 2014) this is a good set of results, higher full-time employment, higher participation, lower unemployment ….

–

AUD/USD surged on the data, tickled above 0.8200 briefly and just under as i update

–

More from Australia this morning:

• ANZ Bank forecasts RBA to cut cash rate by 0.5% in H1 of 2015
• More from ANZ – expect AUD/USD to fall to 74 cents
• The AUDUSD sets up at the neutral area ahead of the Employment report