Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Australian Dollar Gains as March’s Labor Force Data Tops Estimates

Australian Dollar Gains as March’s Labor Force Data Tops Estimates

Daniel Dubrovsky, Contributing Senior Strategist


Talking Points:

  • Australian Dollar gains post labor force data release
  • Unemployment Rate 6.1% vs 6.3% expected
  • Australia adds 37.7K jobs in the month of March

The Australian Dollar climbed 76 pips versus the US Dollar as March’s labor force data topped estimates. Economists were expecting the country to add 15K jobs in the month of March; actual figures proved to be more on the upside with 37.7K jobs added. Most of the jobs gained came from the full-time figures which added 31.5K. The unemployment rate was also lower at 6.1% versus 6.3% expected. In addition, the participation rate also came in better at 64.8% versus 64.6% expected. February’s figures were also revised significantly higher.

Currency Strategist Ilya Spivak mentioned in his Aussie forecast that the central bank’s bias for further easing makes for a data-sensitive environment as traders weigh up news flow for the timing of the next rate cut. March’s overwhelmingly positive labor force data may support speculation about a further delay in the timing of RBA’s interest rate cut. The markets are now pricing in a 55% chance of a rate cut from the central bank during May’s meeting and overall 50bps of easing over the next twelve months.

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