Employment data is due from Australia today at 0130GMT:
- Employment Change March: expected 2.5K, prior 47.3K
- Unemployment Rate March: expected 6.1%, prior 6.0%
- Full Time Employment Change March, prior was +80.5K
- Part Time Employment Change March, prior was -33.3K
- Participation Rate March, expected is 64.8%, prior was 64.8%
The previous month’s results are here: Australia – all the employment data in one spot! Dollar bolts higher
Last month’s result was a big positive for the AUD, the jump in full-time employment was huge. Note, though, that the Australian Bureau of Statistics had reservations about the data, saying some of the better result came from changes in the sample used in the survey.
The data point is also very volatile, here is the ‘employment change’ figure over time:
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For today, the market is chattering about a lower result than last month, partially on a ‘mean reversion’ expectation (i.e. last months was great, this month’s won’t be so much … science, see?
).
I’ll have the full orderboard soon, but already there is talk of (and is) good selling ahead of and at 0.9400. A much better than expected result (or a skew favouring full-time employment over part-time) should see the AUD attempt higher. A poorer than expectation result on the other hand, should see the AUD test bids, which start in size around 0.9325.
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ADDED: AUD orders for today
