Global macro overview for 14/01/2016:
Data on the Australian labor market was released overnight and it was mostly better than expected. Australia's unemployment rate remained steady at 5.8% (5.9% expected) and its economy lost only 1,000 jobs in December (-11 000 expected) according to the Australian Bureau of Statistics. Full-time employment increased by 17,600 in the reported month (41,600 a month earlier), whereas 18,500 part-time jobs were lost following a 29,700 advance in November. The data shows that the Australian labor market performed quite well during last two years despite the slowdown in the mining industry and the unemployment rate is still below the 6.5% projection made by Reserve Bank of Australia earlier last year.
The AUD/USD pair is still sliding towards the long-term support at the level of 0.6908. There are no signs of a trend reversal yet.
