7 Nov 2013
Flash: AUD on weak jobs – BBH
FXstreet.com (London) - A research team at BBH noted that overnight, Australia reported October jobs data that was weaker than expected.
Key Quotes:
“Employment rose 1.1k vs. expectations for a 10k gain and downwardly revised 3.3k rise (was 9.1k) in September”.
“The breakdown was much worse, as full time jobs fell -27.9k and were offset by a 28.9k rise in part time jobs”.
“The unemployment rate was steady from a revised 5.7% (was 5.6%) in September”.
“AUD sold off on the data, continuing a choppy week in which the RBA decision first weakened it towards 0.9400 before the ensuing bounce took it back to near 0.9550”.
Key Quotes:
“Employment rose 1.1k vs. expectations for a 10k gain and downwardly revised 3.3k rise (was 9.1k) in September”.
“The breakdown was much worse, as full time jobs fell -27.9k and were offset by a 28.9k rise in part time jobs”.
“The unemployment rate was steady from a revised 5.7% (was 5.6%) in September”.
“AUD sold off on the data, continuing a choppy week in which the RBA decision first weakened it towards 0.9400 before the ensuing bounce took it back to near 0.9550”.