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Australian jobs comes at a 'mind-blowing' 5 times above expectations

FXstreet.com (Barcelona) - The Australian jobs data has once again beat market expectations, after the total employment change rose by 50,100 vs 12,000 expected. But most importantly, full time job creation climbed to 34,500 vs upward revision to -4,100. Besides, the participation rate went up to 65.3 vs 65.1 expected. Australia unemployment dropped to 5.5.

The jobs print took the market by surprise, with David Scutt, Treasury Dealer at Arab Bank Australia, defining the astonishment by saying on his Twitter account: " I really don't know where to start with this labour force data."

Australia Part-time employment improves to 15.6 in Apr from -28.7

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Forex: Aussie rockets higher after AUD jobs data crushes estimates

The Aussie is trading higher during the Asia session, up 66 pips at 1.0235. The pair was initially trading around 1.0190 before the release of the Aussie Employment Data at 1:30GMT which came in much better than expected at 50,100 actual vs. 12,000 forecast. Also note, China CPI was also released at the same time, coming in at 2.4% actual vs. 2.3% estimate.
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