News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Australian Dollar Unimpressed by June Employment Figures

Australian Dollar Unimpressed by June Employment Figures

Rajyavardhan Pasari, Ilya Spivak,

Talking Points:

• Australian Employment Grew 15.9K in June vs. 12.0K Expected, -5.1K in May

• Unemployment Rate Rose to 6.0% vs. 5.9% Expected, 5.9% in the Prior Month

• Aussie Dollar Fell Sub-Surface Weakness Clues Hurt RBA Policy Expectations

The Australian Dollar traded lower after Australia released June’s employment report despite a better-than-expected headline figure. The data revealed a 15,900 net jobs gain, topping economists’ forecasts calling for a 12,000 increase. The result failed to impress investors however.

The overall increase was driven by the addition of 19,700 part-time jobs, which only partially offset a hefty 27,200 decline in the prior month. Meanwhile, full-time employment marginally declined, showing a loss of 3,800 jobs. An unexpected increase in the unemployment rate to 6 percent – the highest since February 2014 – compounded worrisome cues in the data set.

AUD/USD spiked upward as higher-than-expected headline figure crossed the wires but gains proved short-lived, with prices coming off daily highs and racing toward the 0.94 figure. The drop tracked a decline in Australia’s benchmark 10-year bond yield, suggesting traders may have interpreted signs of labor-market weakness lurking behind the top-line number to mean the RBA will maintain an accommodative monetary policy posture for a relatively longer period.

Australian Dollar Unimpressed by June Employment Figures

AUD/USD [15 mins – 07/10/2014]. Chart created using FXCM Marketscope.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.