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Wednesday, June 15, 2016

Forex preview: Australia’s jobs report (may) 2016

  • Employment change: +10.8K vs. +12.0K expected vs. +25.7K previous
  • Jobless rate: steady at 5.7% vs. uptick to 5.8% expected
  • Labor force participation rate: 64.8% vs hold steady at 64.9% expected
Based on the available leading indicators, I reckoned in the previous Forex Preview for Australia’s jobs report that we’re getting “yet another mixed picture,” but I ultimately concluded that the leading indicators were “leaning towards another potential upside surprise.” Unfortunately, we got the opposite since the Australian economy was only able to generate a net increase of 10.8K jobs, which is lower than the expected 12.0K increase and the previous month’s downgraded +25.7K figure (+26.1K originally).

What can forex traders expect this time?

  • Employment change: +15.0K expected vs. +10.8K previous
  • Jobless rate: hold steady at 5.7% expected
  • Labor force participation rate: uptick from 64.8% to to 64.9% expected
For the upcoming jobs report, the general consensus is that the Australian economy will generate a net increase of 15.0K jobs, which is more than the previous 10.8K increase. As for the jobless rate, it is expected to hold steady at 5.7%, although the labor force participation rate is expected to tick higher from 64.8% to 64.9%.