AUD/USD little changed after the jobs miss (but jobless rate beat!)

The Australian jobs report is here:

• Australia July jobs -40.9K (expected +25K) & Unemployment rate 3.4% (expected 3.5%)

Check out that post for why employment can drop and so too the jobless rate.

I'm already seeing analysts dismissing the job losses:

• labour market remains incredibly tight
• there are more job vacancies than people unemployed
• a 48 year low for the unemployment rate is great

And ... they are not wrong. Yeah, it would have been a better report with jobs added but that jobless rate headline is going to be screamed in the headlines. It's a good 'un.

The Australian Bureau of Statistics is making excuses for the report also (again, they are correct). ABS says the fall in hours worked may be due to the combination of school holidays and abscense from work due to both COVID and flu.

AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term/USD down a few tics: