Good Employment Makes Australian Dollar Stronger
The Australian dollar climbed today after the employment data came out much better than was predicted by analysts, reducing bets on an interest rate cut by the central bank.
Australian employers added 71,500 jobs in February. This is compared to the consensus forecast of 9,500. The unemployment rate remained steady at 5.4 percent. Market participants have feared that it would go up by 0.1 percentage point.
AUD/USD went up from 1.0296 to 1.0344 (the intraday high was at 1.0381) and AUD/JPY climbed from 98.96 to 99.68 as of 9:39 GMT today.
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Earlier News About the Australian Dollar:
- Aussie Weakened by Chinese Industrial Production, Losses Limited (2013-03-11)
- AUD/USD Falls on Chinese Trade Balance, AUD/JPY Extends Rally (2013-03-08)
- AUD Rallies Even as Trade Gap Unexpectedly Widens (2013-03-07)
- Growing Australian Economy Makes AUD More Appealing (2013-03-06)
- Retail Sales & RBA Monetary Decision Boost Australian Dollar (2013-03-05)