The Australia Dollar has seen better days but this is all to the delight of the RBA who wants to squeeze the AUDUSD closer to the .80 mark by the end of the year.
Remembering that the Employment Change numbers took a beating last month coming in at around -29K – any positive number would be an improvement. We expect to see a climb in the AUD value today as we can identify significant retail employment uptake leading into the festive seasonal recruitment.
There may be a slight drop in the AUDUSD swap just minutes prior to the employment figures as Japan releases monetary policy meeting minutes at 10:50am (Sydney). We remain bullish and see AUDUSD comfortable around the .87 mark currently.