Currencies  |  February 07, 2013 08:50:00

Aussie continues to weaken Australia joined in January new jobs

Australia in January enjoyed a strong increase in the number of employed people. The data are, however, slightly misleading, because the increase was mainly due to new working conditions of part-time workers. The unemployment rate remained at 5.4 percent. The Australian economy lost in January 9800 of full-time, but could add 20,200 part-time.

HSBC chief economist Paul Bloxham Australian praised the domestic labor market and admitted that it is a better number than originally expected home economists.But analysts still warn against high unemployment rate, which slows down domestic demand and a strong Australian dollar.

Currency pair AUD / USD is still bearish in the short-term trend. Yesterday was able to overcome the strong support 1.0362, which would today could have worked as resistance and bring continued sales.

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