Australia Jobs Data: Unemployment Rate: 5.1% vs 5.2% expected (AUD bullish)

This is a developing story

The highly anticipated Australian Jobs data has been released.

Aussie jobs data

Unemployment Rate: 5.1% vs 5.2% expected - bullish! 

More to come

AUD/USD price action analysis, before and after

Before: AUD/USD Price Analysis: The price action and levels to look for on Aussie jobs

After: AUD was at 0.6840 just ahead of the release. AUD/USD rallied to 0.6870 on the relase  more to come...

Key notes

• AUD/NZD lined up at critical support ahead of Aussie jobs data

Editor's notes

Australian employment Preview: Upbeat numbers could temper rate cut expectations. Australia expected to have added 15,000 new jobs in December RBA Governor’s Lowe “gentle turning point,” to be confirmed or denied with this report. AUD/USD technically bearish, upside potential limited by Chinese woes.

Description

The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).