Australian Dollar Hits Two-Week Low on Jobs Data Speculations
The Australian dollar, one of the main
Since last week the Aussie entered a significant downtrend mainly against the yen and the greenback after a U.S. employment report indicated
Economists affirm that a combination of two individual factors weigh negatively on the Aussie’s outlook, the new wave of optimism, and tomorrow’s jobs report, which is likely to come negative. The Australian dollar has climbed significantly as the global economy showed signs of recovery, but as the global slump insists to affect markets, we will be likely to see a weakening Aussie for the next weeks.
AUD/USD fell to 0.7849 as of 8:53 GMT from a previous price of 0.7955. AUD/JPY traded at 73.92 from 75.77.
If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.
Earlier News About the Australian Dollar:
- Australian Dollar Down After Chinese Comments (2009-06-29)
- NZD Gains for 4th Day Against U.S. Dollar (2009-05-21)
- Australian Dollar Hits 7-month High on Favorable Employment Data (2009-05-07)
- Australian Dollar Hits 3-Week Low on American Financial Concerns (2009-04-21)
- U.S. Economy Reports Push Down the Australian and NZ Dollar (2009-04-15)