The Fundamental FOREX Blog

On Wednesday, 02-10-10 at 7:30 PM ET, the Australian Bureau of Statistics will release the monthly AUD Employment Change and AUD Unemployment Rate reports

I posted a “follow up” of these reports on Thursday, 01-21-10, click here to see what happened.

The additional reports are:

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

The last time these reports were released was on Wednesday, 01-13-10 at 7:30 PM ET.

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

AUD Employment Change – Stats

Previous = 35.2K

Forecast = 15.1K

AUD Unemployment Rate – Stats

Previous = 5.5%

Forecast = 5.6%

It appears that the two reports are “forecast“ in conflict 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.

Last month I did set up and traded the EUR/AUD currency pair, made 3 trades and lost 1 and won 2.

If you check out how the EUR/AUD chart moved in contrast to the AUD/NZD currency pair – you can see that the AUD/NZD currency pair should be a better trade, we will see!

Here is how I am set up for tomorrow:

AUD-5-30PM-02-10-10
Looking for a 20K difference
Actual > Forecast = Good for AUD
AUD Employment Change
——actual———-forecast———-previous
________________15.1K________35.2K
out at 35.1K or higher – BUY  AUD/NZD
out at -05.1K or lower – SELL AUD/NZD

Actual < Forecast = Good for AUD
AUD Unemployment Rate 5.6%         5.5%

I did post a “follow up” of this report soon after, click here to see what happened.

The next scheduled release of these two reports on Wednesday, 03-10-10 at 7:30 PM ET.

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

Stay tuned!