Australian July employment data is here
But .... to save u a click:
Employment Change for July: +38.5K - BIG BEAT ON EXPECTATIONS
- expected +10.0K, prior +7k, revised from +7.3K
Unemployment Rate: 6.3%
- expected 6.1%, prior 6.1%, revised from 6.0%
Full Time Employment Change: 12.4K
- prior was 24.5K, revised from 24.5K
Part Time Employment Change: 26.1K
- prior was -17.9K, revised from -17.2K
Participation Rate: 65.1%
- expected 64.8%, prior was 64.8%
-
there are lots of arguments on twitter about how good the result was:
- full time vs part time break up
- higher u/e
If I had more time I'd slag off those saying it was a bad report. FFS +38K jobs vs. 10K expected. Maybe only perfection is good enough? But, it ain't perfect.
Anyway .... lets get on with it...
But .... for FX here's the bottom line:
AUD spiked higher on the strong headline result
That spike was sold into by fund and leveraged type names ... and down we've come
In my little preview earlier I mentioned the big run on stops happened on Tuesday, which left less fuel for a run higher, and the downside more vulnerable. Not a perfect call, but not too bad?
I'll get an update on levels etc ASA-
Added - more from Australian Bureau of Statistics:
