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AU Employment Change March 18, 2021

Country of release - Australia

What the data means to the market.
The total number of people employed/changed in the previous month, More employment is positive for the Aussie dollar and would create a buy of AUD. This also comes out with the unemployment rate which has the reverse impact a higher unemployment rate is negative for the Aussie Dollar.

Historic Devitations and Their Outcome

Feb 2021 -
A conflicting mess between Unemployment and Employment change made the move untradeable for us, so we stayed on the sidelines.
See Here →

Jan 2021 No deviations on this release and as you can see from the charts, the market didn’t move!
See here →

Today’s Forecasts

Employment Change =30
High = 55
Low = -31

Unemployment Rate 6.3%
High = 6.6
Low = 6.2

Today’s Trade Plan

The focus will be on the Unemployment rate, this is the key metric that the RBA is watching. If we get a 0.3 deviation from the Unemployment rate in either direction with no conflict from Employment change, then we should see some good moves in the AUD pairs.

Remember that Unemployment is reversed, so more unemployment is BAD for AUD and vice versa. The opposite is true for Employment change, a positive number is good for AUD.

Let’s hope both lines deviate harmoniously, in this scenario we should see a sustained move and rack up a fair amount of pips along the way.