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Australian jobs: Risk skewed to a lower unemployment rate - ANZ

FXStreet (Bali) - ANZ thinks that in today's Australian employment report, the risk appears skewed to a lower unemployment rate.

Key Quotes

"In Australia, labour market data for July are published at 11:30AEST. We expect employment to have increased by around 15K (mkt: +13.2) in July, with the unemployment rate remaining unchanged at 6.0% (mkt: 6.0%) after edging up in June."

"The risks, however, appear skewed to a lower unemployment rate. Looking ahead, we expect jobs to grow around 1.5% over this year and for the unemployment rate to remain close to 6%."

GBP/USD firm on 1.6850

GBP/USD has edged back from the slide from above 1.6890 on poorer data form the UK in London and is consolidating away from the lows beyond 1.6825 which had been threatening the bulls and testing out their commitments.
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