The Australian dollar dipped today as nation’s employment grew last month less than was expected even though the unemployment rate went down. The currency trimmed gains versus the euro and the Japanese yen and fell against its US counterpart.
Australian employment grew by 9,100 jobs, trailing the forecast of 15,200. At the same time, the unemployment rate managed to drop to 5.6 percent. Analysts have though that it would stay at 5.8 percent.
Earlier, the Australian dollar was rising as investors were trimming bets on an interest rate cut from the Reserve Bank of Australia. Today’s data made them more pessimistic and less willing to buy the Aussie.
AUD/USD slipped to 0.9430 as of 1:57 GMT today after rallying from 0.9442 to 0.9470 earlier. EUR/AUD rebounded to the opening level following the drop from 1.4317 to 1.4268. AUD/JPY was up from 91.90 to 92.04, but retreated from the high of 92.36.
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