VIDEO Watch the breakdown of fulltime and parttime Australian jobs

"Newspaper snippet of jobs board"

In a few hours, Australia will release the January employment change.  Expectations are for  an increase of 30,000 jobs vs an increase of 50,000 jobs in December.  What’s of particular importance to Australia’s data is that it is broken down between fulltime and part-time jobs

Something else to note from the employment will be the unemployment rate and the participation rate.  The unemployment rate has been consistent since the summer between 6.6% and 7% and the participation rate has been rising!

On a daily GBP/AUD, the pair has broken above upward sloping trendline dating back to March of 2017 near 1.7675.  Price continued higher and broke above a descending wedge near 1.7775. It then pulled back to for a flag formation and test the top, downward sloping trendline of the wedge and appears ready to move higher.

If part-time jobs exceed expectations, and full-time jobs are lower than expectations, GBP/AUD may be on its way towards 1.8450.

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Related tags: Forex GBP AUD Employment

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