The Australian dollar strengthened against most of its peers after a jobs report on Thursday showed the number of created in April surpassed expectations by a lot.
According to the Australian Bureau of Statistics, 50,100 more positions were added by Australian employers last month, which was much more than the 11,000 positions that were forecast to be created.
As a result of the jobs increase, increase, the official unemployment rate fell from 5.6 percent to 5.5 percent. Employment in the nation looks as though it has been improving since the beginning of the year.
As more positive economic data is released, the Reserve Bank of Australia would probably keep the interest rate unchanged over the next few months, after cutting it down to a record low of 2.75 per cent on Tuesday.
AUDUSD soared to $1.0252 from $1.0161, gaining 0.8 percent in the session.
As a whole, the Asian session was muted today since the economic calendar was light. Most currencies were in consolidation mode.
EURUSD traded a tight 16-pip range, close to yesterday’s high of $1.3193, afte being boosted by strong German industrial output data.
Sterling will likely remain steady ahead of the Bank of England interest rate decision today. The rate is expected to remain the same, as well as the asset purchase program.
GBPUSD was range bound in Asia today, between $1.5531 and $1.5544.
USDJPY opened in Asia at 98.98 and slid to 98.64, as there was no key data to act as a catalyst to move the pair.
The Australian dollar strengthened against most of its peers after a jobs report on Thursday showed the number of created in April surpassed expectations by a lot.
According to the Australian Bureau of Statistics, 50,100 more positions were added by Australian employers last month, which was much more than the 11,000 positions that were forecast to be created.
As a result of the jobs increase, increase, the official unemployment rate fell from 5.6 percent to 5.5 percent. Employment in the nation looks as though it has been improving since the beginning of the year.
As more positive economic data is released, the Reserve Bank of Australia would probably keep the interest rate unchanged over the next few months, after cutting it down to a record low of 2.75 per cent on Tuesday.
AUDUSD soared to $1.0252 from $1.0161, gaining 0.8 percent in the session.
As a whole, the Asian session was muted today since the economic calendar was light. Most currencies were in consolidation mode.
EURUSD traded a tight 16-pip range, close to yesterday’s high of $1.3193, afte being boosted by strong German industrial output data.
Sterling will likely remain steady ahead of the Bank of England interest rate decision today. The rate is expected to remain the same, as well as the asset purchase program.
GBPUSD was range bound in Asia today, between $1.5531 and $1.5544.
USDJPY opened in Asia at 98.98 and slid to 98.64, as there was no key data to act as a catalyst to move the pair.
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