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Nov Jobs Data Better Than Expected, A$ Above Wednesday Highs


AUD/USD has spiked post the Nov jobs data beat. We hit highs 0.6689, which is above Wednesday highs. We are now very close to early Dec highs of 0.6691. In the rate space, the initial move was OIS 2-3bps firmer, while 3y futures 2bps were weaker, but these moves have reversed somewhat now.

  • The data showed a comfortably headline jobs beat +61.5k (+11.5k forecast). Most of the jobs created were in full time as well. The u/e rate ticked up to 3.9%, (3.8% forecast), but his reflected a bounce in the participation rate to 67.2% (66.9% forecast).

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