AUD Doesn’t Join Rally vs. USD, Dragged Down by Employment Data

The Australian dollar was the only major currency that did not rise against the US dollar today. The reason for that was underwhelming employment data in Australia.

The Australian Bureau of Statistics reported that employment grew by 17,500 jobs in February from January, seasonally adjusted, failing to meet market expectations of a 19,800 increase. What is more, the previous month’s increase was revised from 16,000 to 12,500. And on top of that, the unemployment rate edged up unexpectedly from 5.5% to 5.6%.

AUD/USD dropped from 0.7763 to 0.7715 as of 12:14 GMT today. AUD/CHF slumped from 0.7366 to 0.7317.

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