Aussie jobs preview – what to expect in AUD/USD?

By FXStreet AUD/USD has been drifting lower after being capped this month on the 0.77 handle after a strong uptrend in a recovery of end of March sell-off. The U.S. dollar has picked up a bid this week in the absence of domestic drivers for the Aussie. However, today’s session brings the key jobs data as the main focus with eyes on the improving jobless rate below 6%.

Labour force to keep RBA sidelined?

There are mixed views on the Australian economy, but all eyes will be monitoring today’s labour force data as a key component towards the RBA’s decision making process. Australia Mar employment will be out at 11:30am Syd/9:30am Sing/HK. The market will be looking for evidence that the jobs sector in Australia remains on track and is able to improve on 2015’s impressive record. Analysts at ANZ explained that the expectations for this data are that (measured) employment rose solidly in March (ANZ: +20k; mkt: +17k) following no growth since November.

“Following the 0.2ppt decline in the unemployment rate in February, the market is looking for a slight uptick to 5.9% (ANZ: 5.8%). The monthly labour force report can be a ‘lottery’ of course. Our view is that underlying …read more

Source:: FX Street