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Big miss in Australian jobs data

FXstreet.com (Barcelona) - The Australian jobs report just came surprisingly lower-than-expected, losing 36,100 jobs in March vs -5,000 job losses expected. The Australia unemployment rate stood at 5.6% in March - highest since November 2009 - vs. 5.4% in February (expectations were for 5.4%). The participation rate stood at 65.1 vs. 65.3% prior and 65.2% expected.

On the positive side, the February number, which came at an outstanding 71,500, was revised up to 74,000. Full time employment was reduced in 7,400, while part-time jobs suffered the most, as one would expect.

Australia Mar Employment Change s.a. down to -36100 vs 74000

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Forex: AUD/USD plunges on bad Aus jobs data

Following second month with a big miss on Australian jobs report data, AUD/USD is plummeting last at 1.0521 off recent session lows at 1.0496, from previous 11-week highs around the 1.0550 level previous to the release. Market expectation was at -7500 jobs lost from previous +71.5k, but number came in at -36.1k, knocking out the Aussie.
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