AUD guided by strong employment data – BBH

Analysts at BBH note that Australia reported strong employment data and the 61.6k jobs created were three-times for than expected.  

Key Quotes

“It grew nearly 42k full -time positions in November after a revised 31k in October (from 24.3k). The participation rate jumped to 65.5%, but the unemployment rate was unchanged at 5.4%. Australian interest rates jumped on the news.  Although Aussie two-year rates had dipped below similar US rates, that is not the case.  A 9-10 bp premium is back in place.    The Australian dollar's advancing streak is extending for a fourth session. The next target is the $0.7700-$0.7740.”