We get July employment data for Australia today, due at 0130GMT … heres a quick preview of what to watch out for.
– for July: expected +10.0K, prior +7.3K
– Unemployment Rate: expected 6.1%, prior 6.0%
Heading into this week the latest CFTC data had AUD short positions much higher than they were heading into the previous jobs data release a month ago. Then, along came the RBA on Tuesday … and the AUD rally. This took out a lot of shorts.