Australia Employment Changes m/m 08/05/09

9:30pm (NY Time) AU Employment Changes  Forecast -17.8  Previous -21.4K
ACTION: AUD/USD    BUY +6K   SELL -40K

This news release is similar to US. Non-Farm payroll.  It is a high impact report.  If the number is better, which is good for Audi, we would BUY AUD/USD, if the number is worse, which is bad for Audi, we would SELL AUD/USD.

In order to BUY AUD/USD, we should be looking for a positive number of at least 6K; to SELL AUD/USD, we need a minimum of -40K or worse to be taking the trade safely.

The UnEmployment Rate is expected at 6.0%.  If we do not get a conflict with the Employment Changes, then we will proceed with the plan.  If we get a conflict such as better employment (+6K) but worse Unemployment rate (-6.1%?) then it will be an automatic no trade.

DEFINITION

Measures the change in number of employed people during the previous month. A rising trend has a positive effect on the nation’s currency. Job creation is an important indicator of economic health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP.

Related posts:

1. Australia Employment Changes m/m 09/09/09
2. Australia Employment Changes m/m 10/07/09
3. Australia Employment Changes 11/11/09
4. Australia Employment Changes 12/09/09
5. Canada Employment Changes m/m 09/04/09
6. Canada Employment Changes 01/08/10
7. Canada Employment Changes 11/06/09
8. Canada Employment Changes m/m 10/09/09
9. Canada Employment Change 02/05/10
10. Trade Plan For Canada Employment Change 06/04/10

Tagged as: AUD, Australia News, economic health, Employment, Employment Changes, Employment Sector, Forex, Forex News, impact report, Job's Market, news release, trade, Unemployment, Unemployment Rate, US, USD