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Published: 2023-12-14T05:44:33.000Z

AUD/USD flows: Supported by Strong Employment

byCephas Kin Long Yung

FX Analyst
-

Australia November Employment change +61.5K (expected +11K) 

Australian December Consumer Inflation Expectations 4.5% (prior 4.9%)

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.

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Topics
FX DM
AUD/USD-Commentary

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