Market caught on the wrong foot as Australian jobs miss

FXstreet.com (Barcelona) - Australia's Labour Force data came much worse-than-expected, with the Employment Change s.a. (Aug) at -10,800 vs 10,000 exp and -10,200 prior. Out of all jobs lost, fulltime employment accounted for 2,600 vs -6,700 last, while part-time employment stood at 8,200 vs -3,500 prior. The unemployment Rate s.a. (Aug) came at 5.8% vs 5.8% 5.7%. Participation 65.0 in August. The downbeat report will not help on the perception that the RBA will not cut rates again.

Sep 12, 2013

AUD/USD plummets on bad Aussie jobs data

The AUD/USD foreign exchange rate is last quoted at fresh session lows 0.9280 and falling down from session and almost 3-month highs at 0.9353 previous to the news following Australian employment change at -10.8k unexpectedly much worse than anticipated.

AUD/USD sellers take control below key 0.9280

AUD/USD has been hit by heavy supply, after a surprisingly low Australian jobs reports, which saw the country lose 10,800 job posts in August, a month characterized by a much higher average, as indicates the +10k expectations.