"The Australian Bureau of Statistics has just released the December employment report, which was a terrible number no matter which way you cut it.
Employment in Australia fell by 22,600. But the huge fall in full-time unemployment of 31,600 is the big shock for markets, and puts a big question mark on the recovery at the moment.
But it is the contracting participation rate (think people in the workforce or actively looking for jobs) which is really holding the unemployment rate below 6%."
AUDUSD down 3% in 3 days. Sounds familiar?