The Australian economy added 44,000 jobs last month, much more than expected, and this was despite a slightly higher participation rate. The odds of a rate cut next month will have been immediately reduced and short-term AUD bears will be certainly worried. Stop-loss buy orders were tripped immediately above 1.0350 but so far there has been no acceleration higher and this will leave the bears with a bit of hope that more stops above 1.0375 might remain safe. The Chinese GDP data still remains the big one to watch, but after Chinese trade data and Korean and Australian jobs data, one would have to think that the odds of a surprising good number are increasing.