Aussie labour report weighs on AUD to fresh sessison lows

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The Aussie labour report, released by the Australian Bureau of Statistics, has been released as follows:

The data is a disappointment and is weighing on the Aussie Dollar.

AUD/USD broke below the channel support and the data is supporting the case for a continuation. However, should 0.6915 structure hold, then there are going to be prospects of a correction into the bearish impulse with the 0.6970s eyed:

The key component of the data for markets, 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).

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