The Australian dollar is trading lower on the April labor force survey. April unemployment rate lifts sharply and full-time employment modestly.

Key points:

  • The unemployment rate increased 0.1% point to 5.2% in April 2019.
  • Labour force participation rate increased 0.2% point to 65.8%.
  • Full-time employment increased by 15k.
  • Part-time employment increased 6k

The seasonally adjusted number of persons employed increased by 28,400 persons in April 2019, according to the Australian Bureau of Statistics, beats the market expectations of 15k.

ABS said in the latest issue, Full-time employment decreased 6,300 and part-time employment increased 34,700.

The seasonally adjusted participation rate decreased by 0.1 pts to 65.8%.

The other reading, underutilization rate increased by 0.4 pts to 13.7%.

On the higher unemployment and underutilization rate, AUD swiftly lowered 30 pips against the USD but manages to hold the support zone 1.0525-1.0500 against NZD.

Currently, AUDUSD is trading at 0.6915, capped at 0.6935 intraday.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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