Aussie Rallies on Surprisingly Good Employment Data
Australia’s employment data made a pleasant surprise for those Forex traders that were bullish on the Australian dollar as employment unexpectedly grew and the unemployment rate fell.
The number of employed persons in Australia rose by 15,500 in April from March, while analysts expected a drop by 4,800. The unemployment rate slipped from 5.2 percent to 4.9 percent, even though an increase to 5.3 percent was predicted. The Australian currency is still pressed by negative outlook for Europe and uncertain prospects for China, but the domestic data was simply too good and pushed the Aussie up, at least for now.
AUD/USD rose from 1.0039 to 1.0113 and AUD/JPY climbed from 79.91 to 80.81 as of 15:26 GMT today.
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Earlier News About the Australian Dollar:
- AUD Drops as Trade Balance Deficit Unexpectedly High (2012-05-08)
- Aussie Sees Some Improvement (2012-05-07)
- Aussie Falls as RBA Cut Growth Forecast (2012-05-05)
- Aussie Edges Down as RBA Cuts Main Rate More Than Expected (2012-05-01)
- Australian Dollar Falls as Traders Anticipate Interest Rate Cut (2012-04-30)