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Australian Employment - Worse than expected

Written by Sam Coxhead on November 11th, 2010.      0 comments

11:35 AM (AEST) Australian Employment data released: Employment change of +29.7K vs expected +20.2k and  this saw the AUD take off higher by around 50pts to reach a high of 1.0096, but this strength was very short lived as the Unemployment rate hit the wires at 5.4% vs expected 5.0% and this saw the upward move erased and drop 100 pts lower to see the level at .9999 to then bounce to 1.0017, just 4 minutes later. The reason the employment numbers were better but Unemployment rate worse was because the full time employment number was -14, and the employment number of +29.7 includes part time employment figures. The breakdown of the headline numbers comes out slightly later  and this explains the volatility. So on balance the numbers were well weaker than expected.
          Last 24 hours
  Current level Pre-Aust Empl. % Change since data   Low  High
NZD/USD 0.7815 0.7820 -0.1%   0.7735 0.7913
AUD/USD 1.0000 1.0041 -0.4%   0.9971 1.0072
NZD/AUD 0.7809 0.7786 0.3%   0.7705 0.7803
AUD/NZD 1.2805 1.2843 -0.3%   1.2815 1.2978
NZD/GBP 0.4850 0.4853 -0.1%   0.4829 0.4903
NZD/EUR 0.5675 0.5673 0.0%   0.5621 0.5693
NZD/JPY 64.20 64.23 -0.1%   63.12 64.57
NZD/CAD 0.7831 0.7827 0.1%   0.7791 0.7856
 

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