The Fundamental FOREX Blog

On Wednesday, 12-09-09 at 7:30 PM ET, the Australian Bureau of Statistics will release the monthly AUD Employment Change and AUD Unemployment Rate reports

This is my first post for these two reports, there are 3 other economic reports being released as well – at this point on time I do not have any idea how those 3 reports will affect the currency market.

The additional reports are:

AUD – Participation Rate
AUD – Full Time Employment Change
AUD – Part Time Employment Change

The last time these reports were released on Wednesday, 11-11-09 at 7:30 PM ET.

I did set up and trade these reports last month.

Here is what happened then:

AUD Employment Change – Stats

Previous = 40.6K

Forecast = -10.1K

Actual = 24.5K
Good – the “actual” came out higher then “forecast” by 34.6K, but,

AUD Unemployment Rate – Stats

Previous = 5.7%

Forecast = 5.8%

Actual = 5.8%
Good – “actual” came out just as “forecast”
Bad – the “actual” came out higher then the “previous“ by 0.1%.

Here are the charts:

a one minute AUD/CAD chart

This currency pair AUD/CAD moved up about 50 PIPS in 38 minutes – right direction.

a one minute AUD/JPY chart

This currency pair AUD/JPY moved up about 48 PIPS in 26 minutes – right direction.

a one minute AUD/NZD chart

This currency pair AUD/NZD moved up about 40 PIPS in 54 minutes – right direction.

a one minute AUD/USD chart

This currency pair AUD/USD moved up about 58 PIPS in 38 minutes - right direction.
Had a winning trade with this currency pair.

a one minute EUR/AUD chart

This currency pair EUR/AUD moved down about 82 PIPS in 39 minutes – right direction.

Here is how the reports for this month are set up:

AUD Employment Change – Stats

Previous = 24.5K

Forecast = 5.3K

AUD Unemployment Rate – Stats

Previous = 5.8%

Forecast = 5.9%

It appears that the two reports are “forecast“ bad for the Australian economy.

I am not sure which report has the greatest impact on the market, so I will not trade unless both are headed in the same direction.

I will set up to trade the EUR/AUD currency pair – if both reports are not in conflict and there is a difference between the “actual” and the “forecast” of about 25K, I may enter a trade if the market is moving.

Soon after these reports were released I did post a “follow up” report of the results, click here to see what happened.

The next scheduled release of these two reports on Wednesday, 01-13-10 at 7:30 PM ET.

I will probably post a “preview“ a day or two prior.

Stay tuned!