Aussie Unemployment Rate drops to 4.6% vs 5.0% expected, AUD better-bid
|Australian labour market data for July is released as follows:
- Australia Employment change Jul 2.2k (est -46.2k; prev 29.1k).
- Australia Unemployment rate Jul 4.6% (est 5.0%; prev 4.9%).
AUD/USD has moved a modest few pips higher on the data in an otherwise bullish environment for the greenback that is embarking on fresh cycle recovery highs to a critical long-term resistance in DXY.
DXY long-term chart
As can be seen, the US dollar is firm and capping gains in the Aussie despite the improved data.
About the Unemployment Rate
The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.