I’ve done a preview of the Australian employment report, and Adam has done a better one, here.
There’s also: Report: Australian hiring expectations have improved
And: Quick look at the Aussie economy ahead of today’s employment figures – where we at with recent data?
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OK, then. But, what about the AUD, how will that respond to the data today?
I reckon its pretty straightforward, so this is going to be brief.
The ‘Employment change’ is the headline figure and of most attention:
- +10K is the consensus expectation from the Bloomberg survey of economists
- If the figure comes in on or close to expected there should be a little pressure on the AUD and we’ll retest the bids that have shown themselves just below the figure (0.8900, that is).
- If the headline is weak, though, the test will be intense and its likely we can have some further downside.
- If the headline is much better than 10K, we should head up toward 0.8950 and see whats up there (hint, sellers, extending through to 0.8970)
