Australia will publish the April employment report on Thursday at 1:30 GMT.
The Australian Unemployment Rate is expected to continue rising in April. Employment Change could post a modest improvement after March’s slump. AUD/USD could run past 0.6700 on an upbeat employment report. The Australian Bureau of Statistics is expected to announce the country added 23.7K new job positions in the month, after losing 6.6K in March. The Unemployment Rate is foreseen to increase to 3.9% after ticking higher to 3.8% previously.
An extremely poor outcome could spell trouble for the Aussie, although the broad US Dollar’s weakness will likely prevail after the dust settles. Furthermore, it would take more than one dismal report to consider the labor market is loosening, which means it would hardly impact RBA’s future monetary policy decisions.
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