Employment Data Pushes Aussie to Highest in Several Months

The Australian dollar advanced today, reaching the highest level since September against the US dollar and the highest since April versus the Japanese yen, as Australian employment data was much better than expected.
Australian employers added as much as 13,900 jobs in November, while analysts have expected a meager growth by 200. The unemployment rate fell from 5.4 percent to 5.2 percent instead of rising to 5.5 percent as was predicted. The Australian currency stayed strong even amid negative events, so it is not surprising to see that it gains after positive news.
AUD/USD rose from 1.0450 to 1.0486 as of 11:50 GMT today, reaching the highest price since September 21. AUD/JPY climbed from 86.20 to 86.36 — the highest settlement since April 2.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *