Will the labor market support the AUD?

Will the labor market support the AUD?

Australian jobs data will be announced on Thursday at 04:30 MT time.

Instruments to trade: AUD/USD, EUR/AUD, AUD/JPY, AUD/CHF

Last week, the Reserve Bank of Australia left its interest rate at 0.25% saying that no increase will take place until the progress is made towards full employment. Hence, the coming jobs data will largely contribute to financial policy. In February, jobless rate was in line with expectations at 5.1%. That, however, came after a staggering 5.3% in January, which was not among the observers’ forecasts. Therefore, an expectation for the March figure should be more conservative. Not only because of a relative unpredictability of the jobs data but because March is the first and the toughest month to reflect the true extent of the coronavirus hit.   

  • If the jobs data is better than forecast, it will support the AUD.
  • Otherwise, the AUD will fall.

Check the economic calendar

AUD unemp.jpg

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Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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