Monday, 01 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Australian Unemployment rate 0.1% lower and AUD rallies some 30 pips
Thursday, 17 October 2019 08:00 WIB | ECONOMY |ECONOMICUnemploymentEkonomi Australia

Markets are looking for the Reserve Bank of Australia to cut again, potentially as soon  as next month, so today's  labour force survey for September will be very closely watched (Markets are pricing 10bp of easing at the 5 Nov RBA meeting, and a terminal rate of 0.44% (RBA cash rate currently at 0.75%).

Australia Sept Employment +14.7k (Reuters poll: +15.0k) - A miss.

Australia Sept Unemployment rate +5.2 pct, (Reuters poll: +5.3/prior 5.2%) and bullish.

Australia Sept Full-Time employment +26.2k  vs prior 15.5k, bullish.

Australia Sept Participation rate +66.1 pct, (Reuters poll: +66.2 pct) and bullish.

What was key in this report was the unemployment rate. The fact that the participation rate holds near to a record high 66.2%, the unemployment rate stays near the 5.3% (a 12 month high). However, it was a touch lower in September and AUD/USD has moved higher on the data.

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).

Source : FXstreet

RELATED NEWS
U.S. GDP Contracted 5% in First Quarter Instead of 4.8%...
Thursday, 28 May 2020 19:53 WIB

The U.S. economy contracted at an annual 5% pace in the first quarter instead of 4.8%, revised government data show. A downward revision to inventory investment mostly accounted for the downward revis...

Australia Second-Quarter Employment Fall May Now Be 15% Vs Earlier 20% Estimate...
Thursday, 28 May 2020 08:20 WIB

Australian employment in the June quarter may have fallen by only 15% from a year earlier, less than a previous 20% estimate, as there are signs of job increases in the industries most affected by the...

U.K. Retail Sales Fall by a Record 18% in April, Clothing Sales Slump 50%...
Friday, 22 May 2020 13:44 WIB

A nationwide lockdown due to the coronavirus outbreak triggered a record fall in U.K. retail sales in April, the Office for National Statistics reported Friday. The volume of sales fell 18.1% in Apri...

IHS Markit : Latest U.S. PMI Data Indicate Rate Of Collapse In U.S. Economy Peaked In April...
Thursday, 21 May 2020 21:27 WIB

U.S. private sector firms reported a slightly slower rate of contraction in activity in May, according to latest PMI data from IHS Markit. The firm said its flash manufacturing purchasing index rose ...

U.S. Weekly Jobless Claims Remain High As Backlogs, Layoffs Linger...
Thursday, 21 May 2020 19:56 WIB

Millions more Americans filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another mo...

LATEST NEWS
Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning concerns of a fresh economic setback and drove traders towards the safe-haven metal. Spot gold was...

Hong Kong Shares Open With Big Gains

Hong Kong stocks rallied at the start of trade Monday after Donald Trump stopped short of imposing sanctions on China over its plans for a security law in the city. The Hang Seng Index surged 2.52 percent, or 578.44 points, to 23,539.91. China's...

Dollar Slips as Investors Focus on Recovery Outlook

The dollar slipped on Monday as investors looked past unrest in the United States to the global economic recovery from the coronavirus and hoped for an easing in Sino-U.S. tensions. The risk-sensitive Australian dollar shrugged off early pressure...

POPULAR NEWS
Gold futures end higher, up more than 3% for the month
Saturday, 30 May 2020 01:21 WIB

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile,...

Gold Rises Friday and Set for Weekly Gain as Investors Await President Trump Statement on China
Friday, 29 May 2020 19:45 WIB

Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and...

Hong Kong stocks end week with more losses
Friday, 29 May 2020 15:29 WIB

Hong Kong stocks finished with more losses Friday as traders nervously await Donald Trump's news conference, in which he will set out the US...

Gold up as markets cautiously await Trump's response on HK
Friday, 29 May 2020 17:26 WIB

Gold prices rose on Friday, supported by lingering U.S.-China trade tensions, while market participants cautiously awaited Washington's response to...