Release Explanation: This report tracks the number of employed in Australia. The figure appears in the monthly Labor Force Survey conducted by the Australian Bureau of Statistics. A surge in new employment suggests higher spending potential and budding inflation pressures, which the RBA often counters with rate increases.
Trade Desk Thoughts: Employment in Australia decreased by a mere 1.2 thousand in December. This is much less than the 21 thousand that economists had forecasted. Seasonally adjusted, employment decreased by 1,200 to 10.742 million. Fulltime employment decreased by 43.9 thousand while part time employment increased by 42.8 thousand.
Forex Technical Reaction: The aussie has had some wild 50 pip swings immediately before and after this release. However, price is currently holding below the high of the day in the .6618 level.