Australian Employment report

Posts: 19 · #1 - February 17, 2021, 05:51:01 PM

Australian data is showing more signs of pushing the Aussie dollar around when we get a good surprise. Employment is a key metric for the Aussy as the RBA is watching it! Last time we really didn't get that much of a deviation, with just -0.1 in Unemployment creating a small 4 pip move. Not enough to trade, but does show that the Aussie is sensitive to a deviation.
Check out the move here...
https://calendar.galaxysoftwareinc.com/#/calendar;i=26434;t=2021-01-21;r=M1

It is important that we consider the 3 main lines in any trading decision,

Employment = The headline number of how many jobs are gained or lost.
Full Time = How many of those jobs are Full-time positions, as opposed to Part-Time. This is important as a big positive surprise in Employment number may look good initially, but if it's made up of many Part-time positions, well that's not good at all!
Unemployment= This line is important! the RBA is watching this line specifically, and will be key to any trade's success! This month the forecast ranges are tighter than normal, so that helps if our triggers are hit! Trade Plan...No Slippage control...

Trade on
AUDNZD
T1 TEST = EC=50K & UE= 0.2 & FT=38K all must dev
T2 VERY SMALL= EC=50K & UE= 0.4 & FT=38K all must dev
or
T2 VERY SMALL= EC=100K & UE= 0.3 & FT=38K all must dev
T3 SMALL =EC= 50K & UE=0.8 & FT=38K all must dev

With Slippage control..
Trade on
GBPAUD Slippage of = 5/7/8 pips of slippage
EURAUD Slippage of = 5/7/8 pips of slippage

T1 TEST = EC=40K & UE= 0.2 & FT=38K all must dev
T2 VERY SMALL= EC=40K & UE= 0.4 & FT=38K all must dev
or
T2 VERY SMALL= EC=100K & UE= 0.3 & FT=38K all must dev
T3 SMALL =EC= 40K & UE=0.8 & FT=38K all must dev

Linkback: https://www.forex.zone/fundamental/12/australian-employment-report/3250/

Australian Employment report

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Australian Employment report

JamesThatcher

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