The Australian Dollar rebounded based on the statistics. Overview for 15.02.2018
On Thursday morning, AUDUSD continues recovering; the labor market statistics provide support to “bulls”.
The Australian Dollar continues growing against the USD on Thursday. The current quote for the instrument is 0.7930.
The statistics published by Australia in the morning turned out to be pretty interesting. The Unemployment Rate decreased from 5.6% in December to 5.5% in January, which was a pleasant surprise, although it matched expectations. The Employment Change report showed +16K; the previous reading was +33.5K, the expected one was +15.3K
The components of the report showed that the Full Time Employment Change was -49.8K and the Part Time Employment Change was +65.9K. The Participation Rate in January was 65.6%, which is worse than 65.7% in December.
It appears that right now the Australian labor market is completely based on the Part Time Employment. It’s quite risky for the economy, because the situation may change at any moment.
On the other hand, if the Part Time Employment continues providing support in the short-term, the Unemployment Rate may decrease even more.
RoboForex Analytical Department
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