The headline jobs number earlier was quite strong but we must also realise that much of this was thanks to increased part-time jobs and a lower participation rate. The headline number caused many to cut their AUD shorts but overall sentiment wasn’t changed much by this data.
The Chinese trade data was expected to show imports at +11% YoY but they came in just above flat. This is seen as bad for commodity exporters like Australia.
Net-net, risk sentiment will have slightly improved after these data events so if you’re short AUD, it might make sense to take a bit of profit on dips?