Global macro overview for 15/10/2015:
The overnight data on the Australian labor market did not really change the overall job situation. Australia's unemployment remained steady at 6.2% last month, although the number of jobs fell by 5,100. While the unemployment rate is in line with market expectations, the employment numbers are bit disappointing as the market expected around 7,200 jobs to be created in September. This is the first drop since April this year; nevertheless, if the mortgage rates are hiked, this situation might spill over to the consumer spending and affect the labor market and finally slowly increase the unemployment rate in the nearest future.
The AUD/USD pair is currently trading just below the technical resistance at the level of 0.7384 after bouncing from the support at the level of 0.7198. The next resistance is seen at the level of 0.7438.
