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Will the Australian job data support the AUD?
Australia will publish the level of employment change and the unemployment rate at 2:30 MT on November 14.
The employment change shows the change in the number of employed people during the previous month, while the unemployment rate is the percentage of the total workforce that is unemployed. During the previous release, the unemployment rate fell to 5.2% (vs. 5.3%). The AUD ignored the lower-than-expected figures of employment change and jumped on the positive unemployment rate by more than 30 pips right after the release. Will the situation repeat itself this time?
• If the employment change is higher and the unemployment rate is lower than the forecasts, the AUD will go up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the AUD will go down
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