Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us

Grab your $30 from XM

Forex Analysis
by ForexNewsNow Team on October 6th, 2010

Forecast: How will Australia employment change affect AUD/USD?

Forex forecast - a pile of Australian dollarsNEW YORK (Forex News Now) – Australia’s statistics bureau is due on Thursday to publish a key jobs report for September, in one of the day’s major realtime FX news events.

The Australian Bureau of Statistics is expected to say Australian employers added 20,200 new jobs during the month, after adding 30,900 in August, according to two currency market trading news outlets.

The bureau is scheduled to release the report at 12:30 A.M., GMT; as such, the data is likely to dominate Asian currency market trading – along with the publication of Australia’s unemployment rate, which will accompany the data.

Given the current intraday analysis, should Australian employers add more jobs in September, AUD/USD could be lifted toward resistance around 0.9792, the high of July 22, 2008 and one pip above the daily high.

But if the data show a weaker-than-forecast growth in jobs, or even an increase, the currency pair could be pushed toward support around Tuesday’s low, 0.9541.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))