The Australian Employment Change and jobs data released by the Australian Bureau of Statistics has been released as follows and is a disappointment, weighing on the Aussie: 

• Australia Employment Change Jan: -11.5K (est 20.0K; prev -14.6K).
• Unemployment Rate Jan: 3.7% (est 3.5%; prev 3.5%).
• Full Time Empl Change Jan: -43.3K (prev 17.6K).
• Part Time Empl Change Jan: 31.8K (prev -32.2K).
• Participation Rate Jan: 66.5% (est 66.6%; prev 66.6%).

AUD/USD update

(Prior to the data above)

(Knee jerk reaction below)

The Aussie is under pressure on the Unemployment Rate disappointment and big miss in the Employment Change:

AUD/USD has dropped heavily on the back of the data and a break of the recent 0.6865 lows is on the cards for the day ahead. 

In prior analysis, AUD/USD Price Analysis: Bulls are forced to the edge of the abyss, a bearish thesis was drawn as follows:

''Should the bears commit below 0.6920:

There will be probabilities of a much deeper breakout with 0.6720 eyed at the extreme as per the daily chart.''

About Aussie Employment report

The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).