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AUD: Australia Releases Labor Data
What will happen?
Australia will release the employment change and unemployment rate on August 19, at 04:30 MetaTrader time (GMT+3). These are the leading indicators of the labor market. The employment change will reveal how many Australians got jobs in July, while the unemployment rate will show the portion of people who didn’t have any job in July but were actively seeking it during July.
How to trade on the Australian labor data?
It’s easy: more jobs are good, fewer jobs are bad! Therefore, a higher employment change and a lower unemployment rate are positive for the Australian economy and thus the Australian dollar. Alternatively, a lower employment change and a higher unemployment rate are negative for the Australian dollar. Follow the forecasts in the economic calendar and compare them with the actual numbers.
- Better-than-expected indicators will push the AUD up.
- Worse-than-expected indicators will press the AUD down.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.