Markets

Breakdown of the latest developments on the global exchanges
Nov 11, 2019, 12:00 PM GMT
#UnemploymentRate

The Australian Unemployment Rate is Expected to Remain Unchanged

The Australian Bureau of Statistics is scheduled to release its most recent findings regarding the labour force in the country on Thursday.

The prevailing market expectations project no changes in the overall unemployment rate, which is likely to have remained at 5.2 per cent during October.

Additionally, the Australian labour market is anticipated to have added 16.2 thousand employees to the overall labour force in the previous month.

Australia Unemployment Rate

Provided that no further hikes in overall unemployment are observed on Thursday, the Australian dollar is likely to find new bullish support and continue its hike from last week, after the recent price correction.

The AUDUSD has broken below the minor support level at 0.68800, and the price is currently consolidating around the 0.68500 level.

AUDUSD 1D Price Chart