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AUD Shows Anaemic Reaction To Upbeat Australian Labour Force Survey

AUD

A decent Australian labour force report prompted AUD crosses to pop higher, but the move has been very limited. The surprise addition of 178.8k jobs (consensus was for a negative reading) was coupled with an unexpected expansion in the participation rate, which yielded a below-forecast uptick in the unemployment rate. Underemployment and underutilisation both dropped to lowest levels since March.

  • AUD/USD has ticked off lows, but still trades -10 pips at $0.7295, with familiar technical levels in play. Likewise, AUD/JPY has edged away from worst levels, but still trades -6 pips on the day. The Aussie's gains vs. safe havens have been limited by broader sense of risk aversion.
  • AUD/NZD has bounced into positive territory and last trades at NZ$1.0557, 9 pips better off. Next resistance seen at Nov 13 high of NZ$1.0631.
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