Aussie Maintains Bullishness with Help from Employment Data

The Australian dollar maintained its bullishness, rallying today following yesterday small drop, as employment data was very good, supporting the view that the nation’s economy can keep expanding without additional measures from the central bank.
Australian employers added 14,200 jobs in April. This value is below the upwardly revised March reading of 21.9 but above the analysts’ projections of growth by 7,500. The unemployment rate was steady of 5.8 percent, while economists were concerned that it might rise to 5.9 percent.
The Aussie also got help from China, the biggest trading partner of Australia. China’s trade balance grew from $7.7 billion to $18.5 billion in April, exceeding the median estimate of $15.2 billion as both imports and exports beat expectations.
AUD/USD climbed from 0.9327 to 0.9372 as of 21:13 GMT today. EUR/AUD sank from 1.4911 to 1.4762. AUD/JPY went up from 95.03 to 95.25, reaching the high of 95.63 intraday.

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Your email address will not be published.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 *