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Trading the News: Australian Employment Change

Wednesday, 10 October 2007 22:54:56 GMT

Written by Antonio Sousa, Currency Analyst

Australian payrolls grew nearly twice as fast as expected in August. The consensus was calling for a 17,500 pickup; but fundamental traders were met with a 31,900-person jump instead. The divergence in expectations and the actual number suggests economists didn’t fully realize the influence the mixture of strong commodity prices and demand would have on employment trends.

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