Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaAustralia will release employment change and the unemployment rate on Thursday, at 02:30 MT time. The employment change shows the difference in the number of employed people during the previous month. The unemployment rate demonstrates the percentage of the total unemployed workforce looking for a job during the last month. Both indicators track situation in the Australian labour market.
The Reserve Bank of Australia is currently monitoring the situation in the economy to make the next steps concerning monetary policy. For now, the regulator remains cautious as inflation is not moving within the 2-3% range. However, serious changes in the Australian labour market may push the RBA to consider tapering. Last time, the employment change rose by 64.8K (vs the forecast of 60K), and the unemployment rate fell to 4.2% (vs 4.5% expected).
As a result, the Australian dollar outperformed other currencies.
Compare the actual figures with the forecasts in the economic calendar.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
