AUD/USD eyes Australian jobs data: 20,000 gain, 4.6% jobless rate expected

The source reports no AUD/USD price move, pip figure or technical levels ahead of Australia's upcoming labour force report. NAB forecasts a 20,000 increase in employment, matching both Westpac's estimate and the market consensus. Three major banks expect the unemployment rate to hold steady at 4.6%. Because the headline jobs forecasts are tightly clustered, the scope for a surprise lies mainly in the jobless rate. A decline to 4.5% would revive the case for further Reserve Bank of Australia tightening and could support the Australian dollar and short-dated yields. A rise to 4.7% would push the other way, adding weight to the view that the RBA's four rate hikes are already doing enough. For AUD/USD traders, the unemployment rate is the key figure to watch. A print in line with the 4.6% forecast would offer little new policy signal, while a 0.1 percentage point deviation in either direction could shift RBA expectations and influence the Australian dollar.