Australian dollar bounces on surprisingly firm jobs data
April 16, 2015 8:30 am
The Australian dollar leaped Thursday as jobs data strengthens, prodding the market to cut back speculations for another interest rate cut by the Reserve Bank of Australia.
According to the Bureau of Statistics, unemployment rate slid to 6.1%, as approximately 37,000 jobs were added to the Australian economy.
The Aussie rose 0.9% to $0.7752 per US dollar, and now enduring resistance at $0.7784.
In general, this is still a US dollar story and should its huge correction continue, “the Australian dollar can climb higher,” said Jeffrey Halley, Trader at Saxo Capital Markets.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar leaped Thursday as jobs data strengthens, prodding the market to cut back speculations for another interest rate cut by the Reserve Bank of Australia.
According to the Bureau of Statistics, unemployment rate slid to 6.1%, as approximately 37,000 jobs were added to the Australian economy.
The Aussie rose 0.9% to $0.7752 per US dollar, and now enduring resistance at $0.7784.
In general, this is still a US dollar story and should its huge correction continue, “the Australian dollar can climb higher,” said Jeffrey Halley, Trader at Saxo Capital Markets.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: