When is the Australian employment report and how could it affect AUD/USD? – by anilpanchal7 Australia Employment AUDUSD Events RiskAppetite
Market consensus suggests that the headline Unemployment Rate may remain unchanged at 3.4% on a seasonally adjusted basis whereas Employment Change could ease to 22.5K versus the previous addition of 64.0K. Further, the Participation Rate is expected to remain unchanged at 66.8% prior level.
Technically, Wednesday’s U-turn from the highest levels since mid-August 2022 portrays a rising wedge bearishAUD/USD Forecast: Bearish case should gain adepts once below 0.6930The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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