The Fundamental FOREX Blog

Tomorrow,  Wednesday, 06-09-10 at 9:30 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 last months reports on Wednesday, 05-21-10, click here to see what happened.

Last month I did enter a trade of the currency pair EUR/AUD – a loser! This month I am switching to the currency pair AUD/NZD for a trade set-up since it looked better last month.

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

AUD Employment Change – Stats

Previous = 33.7K

Forecast = 16.1K

AUD Unemployment Rate – Stats

Previous = 5.4%

Forecast = 5.4%

If the “Unemployment Rate” does not go up and the “Employment Change” improves, AUD related currency pairs should move in favor of the AUD.

Here is how I am set up for tomorrow:

AUD-9-30PM-ET-06-09-10
Looking for a 20K difference
Actual > Forecast = Good for AUD
——actual———-forecast———-previous
_______________16.1K________33.7K
out at 36.1K or higher – BUY  AUD/NZD
out at -03.9K or lower – SELL AUD/NZD
Actual < Forecast = Good for AUD
AUD Unemployment Rate
———————5.4%———— 5.4%

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, 07-07-10 at 9:30 PM ET.

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

Stay tuned!