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Any prospects for the AUD?

Any prospects for the AUD?

Updated

What will happen?

Australian jobs data is published on May 20, at 04:30 GMT+3.

In December and January, the labor market in Australia was matching the forecasts almost up to a decimal. Starting from February, actual figures started exceeding the market expectations manifold. That was a solid indication that there is a steady trend for recovery in the Australian economy. That’s why the forecasts for the coming data are optimistic.

How to trade the jobs data?

The expected Australian employment change is 80K. That means most observers believe that the country’s labor market will have added 80K jobs in April – which is almost exactly as the March figure of 70.7K. If April’s employment change will be higher than that, it will be good news for the Australian economy that may push the AUD. Otherwise, disappointed investors and traders may dump the AUD and make it lose value.

  • If the actual jobs data exceeds forecasts, the AUD may rise;
  • Otherwise, it may lose value.

Instruments to trade: AUD/USD, AUD/CAD, AUD/CHF, AUD/JPY

Check the economic calendar

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