Australia Employment Changes m/m 10/07/09

[flv:http://www.newsprofiteer.com/100709-auemployment/100709-auemployment.mp4 480 360]

8:30pm (NY Time) AU Employment Changes  Forecast -9.7  Previous -21.1K
ACTION: AUD/USD    BUY +15K   SELL -33K

This news release is similar to US NFP, but for Australia.  It is as a high impact report as the job’s market have a direct influence over the health of the economy.  If the actual release is better, it would be good for AUD and we would BUY AUD/USD, if the actual release is worse, it would be bad for AUD and we would SELL AUD/USD.

The safe deviation that we are looking for is at least of 23K.  Historically a 23K of deviation has produced about 40 pips of movement in the direction of the deviation about 75% of the time, which is enough for making an educated prediction.

One other important news to pay attention to is the Unemployment Rate, which is expected at 6.0%.  If we do not get a conflict with the Employment Changes, then we will proceed with the plan. 

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:

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2. Australia Employment Changes 11/11/09
3. Australia Employment Changes 12/09/09
4. Canada Employment Changes m/m 09/04/09
5. AUD Employment Change Retracement Trade – 06/10/09
6. Canada Employment Changes 11/06/09
7. Canada Employment Changes 12/04/09
8. Canada Employment Changes m/m 10/09/09
9. Australia Retail Sales m/m 09/08/09
10. Forex Trade Plan & Video For Canada Employment Change 08/06/10

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