Unemployment rate: 4.3% (expected 4.1%) — highest since late 2021
Full-time employment: -38,200 jobs
Some key takeaways from the report:
Soft hiring: June’s minimal job gain fell well short of forecasts, following a slight decline in May
The AUDUSD felt shortly after the report as RBA rate cut expectations rose. Momentum is shifting and continue that momentum into the North American session. However, buyers have helped to push the price up in the morning North American session.
The low price extended to 0.64535 just below the 61.8% retracement of the move up from the June low at 0.6457. Since then, the price has seen a rebound back toward the 50% midpoint at 0.64833 and also the low prices from last week - just above that midpoint level. The current price is just below that level.
Of note for traders, is that the prior corrective bounce moved back up to resistance at 0.6495, and found willing sellers as traders focused on the downside in the shift from the jobs report.
If this bounce is similar, we should see sellers near the 50% retracement level keep a lid on the corrective action..
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about the australia jobs report was weaker the moves lower as concerns for growth increase was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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