The Australian jobs report released earlier today saw the unemployment rate stay put at 6.20%, matching the median consensus estimates. The unemployment change saw the number of jobs declining by over 5000, marking the first decline in jobs growth since April of this year. A major chunk of the declines came from full time workers who in total lost 13,900 jobs in the month of September. Pervasive weakness in the commodity sector which has led to a wave of consolidations and layoffs remains a key concern for policymakers as they seek to keep unemployment low and growth sustained. The AUSDUSD currency pair posted a session high of 0.7350 on the news before pulling back lower. Resistance is identified at 0.7348 and a decline back towards 0.7190 is possible, which marks the breakout from the longer-term falling trend-line.
US Dollar Continues to Edge Lower
Daily Analysis - 15/10/2015