The Australian Bureau of Statistics will publish tomorrow, June 15, the jobs report for the month of may. If you consider the trading of this event on the foreign exchange market, here is what help you to optimize your making pips.
That happened the last time ?
The australian economy has generated a net increase in employment of 37 400 over the period of April. It was a good surprise since the consensus among economists was around a small increase of 4 500. However, employment growth in the month of April has been slower than that of the month of march even if the figures of this month have slightly been reduced (60 000 60 900 originally).
Other details disappointing of the report, the fact that the growth recorded in the month of April is based on an increase of 48 960 part-time jobs. The full-time jobs, meanwhile, fell by 11 600. Note that it is the first loss of the full-time jobs after two consecutive months of net increase.
Another detail, the seasonally-adjusted jobless rate fell to 5.7% in April instead of stagnate at 5.9%. This is the reading the lowest since January of 2017. The participation rate finally, remained stable at 64.8 per cent is its best reading since July 2016.
Overall, the employment report aussie of the month of April has been good. The only disappointment is based on the net loss of full-time jobs. On the foreign exchange market, the dollar AUD has logically progressed.