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Australian Dollar Whipsaws After Oddly Mixed Employment Report
The Australian Dollar wobbled Thursday on the release of official employment data which was mixed, if far from weak overall. The Aussie economy added 34,700 jobs in December, massively ahead of the 15,000 forecast. Coming after a blockbuster set of November data this further surge might have been expected to boost the currency. But the devil appears to have been in the detail. Full-time jobs rose by ‘only’ 15,000, with part-time positions up by 19,500 (both were less than last month’s gains). These figures always have more positive impact when full-time hiring is robust, so the disparity may explain some of the ... (full story)