AUD/USD flows: Supported by Strong Employment

On Thursday, we see the Australian labor report surprised to the upside significantly. The Australia November Employment change is +61.5K with expectation of +11K. While unemployment rate rose 0.1% to 3.9%, it was forced by the much higher participation rate of 67.2%, expected at 66.9%. The higher increase in part time jobs than full time did take the shine a bit from the report but all in all this is a very solid labor report.

The AUD/USD is capitalizing on weak USD and strong labor report to trade 0.82% higher at 0.6714.