AUD losing a little more ground after disappointment on the jobs report

The March employment data is out, and it was a bit of a disappointment

• Jobs growth slowed
• the previous strong growth (in February) was revised to a jobs loss
• unemployment remained unchanged, but with a lower participation rate the gloss is off this number

Check out the post for more, the 'trend' numbers not so bad, but trend hours worked is a useful indicator and it barely gained at all: Australia March Employment change: +4.9K (vs. expected +20K)

AUD is lower (it was marked down in response to the report):

For AUD bulls the concern is the signs of slowdown are starting to build

Out at the same time was Q1 business confidence and conditions, not so bad:

• Australian business confidence for Q1: 7 (prior 7, revised from 6)