Employment data due from Australia today
At 0130GMT
Employment Change for June:
- expected to be flat, prior +42.0K
Unemployment Rate:
- expected 6.1%, prior 6.0%
Full Time Employment Change,
- prior was +14.7K
Part Time Employment Change,
- prior was +27.3K
Participation Rate,
- expected is 64.7%, prior was 64.7%
-
Monthly employment growth has been steady (the 3 month average is around 25,000) but the RBA is looking for better figures to replace mining-related job losses.
For the AUD ... the intense selling we saw starting at the beginning of July has only relented for short periods
Its left sellers overhanging the market now.
I'll be back with the orderboard a little later (its not yet 7am in Sydney), but here's how support and resistance are shaping up:
Initial resistance 0.7450, through to 0.7490
Support just ahead of overnight lows, 0.7380
