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AUD: Employment data posted a small increase - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Kit Juckes, Research Analyst at Societe Generale, notes that the Australian employment data posted a small (300k) increase in employment, but full-time jobs gained 15,900 and the unemployment rate fall to 5.8% from 6%.

    Key Quotes

    “The data are volatile but a 6- month average employment gain of 20k/month doesn’t point to any strong case for rate cuts. We remain long AUD/NZD, along with other recommendations, short NZD/CAD and short EUR/RUB, which both reflect the bottoming of oil prices.”
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