[VIDEO] Watch the breakdown of fulltime and part-time Australian jobs
Joe Perry February 17, 2021 7:04 PM
What’s important for Australia’s data is the breakdown between full time and part-time jobs
In a few hours, Australia will release the January employment change. Expectations are for an increase of 30,000 jobs vs an increase of 50,000 jobs in December. What’s of particular importance to Australia’s data is that it is broken down between fulltime and part-time jobs
Something else to note from the employment will be the unemployment rate and the participation rate. The unemployment rate has been consistent since the summer between 6.6% and 7% and the participation rate has been rising!
On a daily GBP/AUD, the pair has broken above upward sloping trendline dating back to March of 2017 near 1.7675. Price continued higher and broke above a descending wedge near 1.7775. It then pulled back to for a flag formation and test the top, downward sloping trendline of the wedge and appears ready to move higher.
If part-time jobs exceed expectations, and full-time jobs are lower than expectations, GBP/AUD may be on its way towards 1.8450.
Learn more about forex trading opportunities.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.