Australian Dollar Falls Slightly after Employment Data
The Australian Dollar fell slightly after the Bureau of Statistics reported that employment rose by 24K in the month of January, better than the 17.5K expected and the lowly reading of 1.8K in the prior month. Even so, it wasn’t enough to bring down the unemployment rate, which stayed flat at 5.0%.
Taking a closer look at the report, full-time employment actually fell by 8K, but that was more than made up for by the 32K surge in part-time employment. The labor force participation rate ticked slightly higher to 65.9% from 65.8%, near the 66% record level set back in November.
AUD/USD Intraday Chart:
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