The Australian dollar rose today as the unemployment rate unexpectedly fell last month. The currency went higher even as Australian employment shrank, surprising market participants negatively as they were expecting a moderate increase.
The unemployment rate fell from 5.2 percent to 5.1 percent in August, while analysts thought it would rise to 5.3 percent. The employment change posted the drop by 8,800 jobs last month from the month before, while the median forecast promised an increase by 5,100. The July rise was revised from 14,000 to 11,700.
AUD/USD rose from 1.0193 to 1.0218 and AUD/JPY advanced from 79.8950 to 80.1200 as of 2:02 GMT today.
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