06.11.2014 - Positive on the labor market in Australia was not able to improve the mood of investors

Today in Australia, was published the data on the labor market, which have appeared positive, but were not able to compensate the negative of lower prices for iron ore to its lowest level in 5 years. Thus, the employment rate increased by 24.1 thousand, compared to the forecast of analysts 10,3 thousand. It is worth noting that the unemployment rate remained at the same level. Positive is the fact that the number of jobs with full-time employment increased by 33.4 thousand, while part-time employment fell by 9.4 thousand. Despite this positive, the price of the Australian dollar according to our estimates will continue to fall due to lower prices for export commodities like iron ore, copper, gold and others.

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