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FX & Equities: Record Employment Sends AUD/USD Higher

Posted by Akhilesh Ganti on Sep 10, 2014 10:48:00 PM

Australian employment for August posted a record increase (see table below) led by a surge in part-time employment further lending credence to the RBA's view that the low interest rate environment should increase domestic demand and spur economic growth. While this is a huge surprise, last month's optimistic Capex figures might have anticipated just this type of result as the unemployment rate fell even while the participation rate increased noticeably. AUD/USD, which had been trading around 0.9150 just prior to the release, quickly spiked higher breaching 0.9200 before running into sellers just ahead of resistance at 0.9220.

{Chart: Bloomberg}(click to enlarge)
AU employment 091014

Economic Data: {Source: Bloomberg}

Country Event Period Survey Actual Prior Revision
Australia Employment Change Aug 15.0K 121.0K -0.3K -4.1K
  Unemployment Rate Aug 6.30% 6.10% 6.40% --
  Full Time Employment Change Aug -- 14.3K 14.5K 15.4K
  Part Time Employment Change Aug -- 106.7K -14.8K -19.5K
  Participation Rate Aug 64.80% 65.20% 64.80% 64.90%

Ranges:{WWM's New ALPHA Trader - DAILY charts [EUR, GBP, AUD, YEN, GOLD, OIL, DXY]}(click to enlarge)
FX 091114

Equities:{WWM's New ALPHA Trader - DAILY charts [Dow30, SP500, Nasdaq100, Nikkei225, China, HKG40, Nifty50, ASX200]}(click to enlarge)
STOCKS 091114

Topics: Asian session, Ranges


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