AUD had a small pop on the good jobs number beat, back to little changed now

The headline numbers from the October jobs report were strong, beats:

Some of the details I didn’t go into in that post paint a not so rosy picture (not trying to be downbeat, it is what it is)

  • youth unemployment 15.6% (up 1% in the month and 3.1% y/y)
  • underutilization rate 17.4%

AUD response (it had dropped along with other currencies on the way into the data release):

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