The Australian dollar rose today due to signs of continuous improvement of Australia’ labor market. The number of jobs advertisements grew for the eighth consecutive month in January, suggesting that the Australian economy performs relatively well.
The ANZ jobs advertisements rose 1.3 percent last month after increasing 1.8 percent in the month before. ANZ Chief Economist Warren Hogan said:
The eighth consecutive monthly rise in ANZ job ads is an encouraging sign that new labour demand continues to improve in certain sectors of the Australian economy.
The Australian dollar gained after the data, and it looks like the currency completely recovered after the shock of an unexpected interest rate cut.
AUD/USD gained from 0.7760 to 0.7809 and AUD/JPY rose from 92.36 to 92.73 as of 14:39 GMT today.
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