Australian employment change figures are due out overnight tonight and expectations are for the rate to remain at 6% which is still fairly healthy looking at some of the other figures recently released around the globe.
Personally after speaking to many clients over in Australia it does appear that parts of the country are starting to feel a bit of a slowdown and I would not be surprised to see the employment rate come out a little worse than expected but as usual pretty much anything can happen. Governor of the RBA Stevens still seems fairly upbeat about how the economy is performing at present after being quite the opposite merely a number of months ago.
The Australian Dollar made minor gains against Sterling this morning as we saw fairly poor industrial and manufacturing figures out for the U.K this morning but it still seems like the the exchange rate for GBP/AUD is stuck on the pivotal point of 1.80 waiting for the next big piece of news.
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