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Forex: Aussie rockets higher after AUD jobs data crushes estimates

FXstreet.com (Barcelona) - 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.

According to analysts at FXStreet.com, 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 FXStreet.com Trend Index remains Slightly Bullish on the 1 hour chart, while the OB/OS Index reads Overbought. From a technical perspective, initial resistance sits at 1.0261 (the 9dma), followed by 1.0292 (the 20dma). First support will now be 1.0210 (previous resistance, now support on 1 hour chart), followed by 1.0184 (the 9dma on 1 hour chart).

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

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.
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Asian share markets mixed; Nikkei & Kospi leading the rise

Following much better than expected Australian jobs report and China CPI pretty much in line with expectations although 0.01% higher at 2.4%, local share markets show mostly green lights, lead by a strong Nikkei index, that is finding some trouble against the 13400 points ask line.
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