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Later in the Asian session, we have the release of some key employment data out of Australia. This data typically provides some strong moves in the AUD and NZD.
After the RBA did it’s “dovish hold” on rates at the beginning of the month, analysts are keen to see how the data is unfolding. Employment is an important indicator for the RBA. So much so that it could help incline their actions in the next meeting. So, the currency would react in anticipation.
As we’ve discussed previously, Australia’s employment situation is sitting at what we might call a tipping point. That means changes in the unemployment rate can have complicated implications for the economy, as well as monetary policy and the currency.
What We Are Looking For
All the employment data comes out at once at 03:30 CET (that’s the day before at 21:30 EST). The market usually focuses on the employment change n...
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