Strong jobs drive AUD higher, ASX lower

AUD is up and away following the jobs beat:

Bonds are off the menu:

So is XJO:

Big Iron is enjoying a relief rally:

Big Gas is vulnerable here as the politic gets worse and the US hurricane passes:

Big Gold is struggling to believe:

Big Mortgage does not like rising bond yields:

Big Puswd is getting a little shaky:

With lots more downside ahead.


  1. Roy Morgan August 2018 says
    1.3 million unemployed
    1.1 million seeking work
    10% unemployment, nearly double the ABS.

    Who’s telling the truth here ?

    August 11 2018 Finding No. 7683 Topic: Press Release Unemployment Country: Australia
    Despite solid jobs growth over the past year, the overall growth in the Australian workforce means unemployment has increased to 10% in July.
    As noted in previous months, part-time employment continues to grow at a faster rate than full-time employment.

    The latest data for the Roy Morgan employment series for July shows:

    12,021,000 Australians were employed in July, up 167,000 over the past year;

    The workforce which comprises employed and unemployed Australians is now 13,350,000, up 260,000 on a year ago;

    1,329,000 Australians were unemployed (10% of the workforce); an increase of 93,000 (up 0.6%) on a year ago and the highest level of unemployment for nearly a year since August 2017;

    In addition 1,148,000 Australians (8.6% of the workforce) are now under-employed, working part-time and looking for more work, a fall of 78,000 in a year (down 0.8%);

    Roy Morgan’s real unemployment figure of 10% for July remains substantially higher than the current ABS estimate for June 2018 of 5.4%.

    • Definitions of unemployment between the two are quite different. Also the ABS has ben curting back on jobs and data havent they – perhaps they project a few data points

  2. Heard on ABC 24 this morning the ABS changed their “sample group”.
    Rubbery figures?
    The GAT (great aussie turd) has bobbed up near US 72c.