The Aussie Dollar moves higher as unemployment falls

In short

  1. AUD/USD jumps higher and hits a 1 week high of 0.6791
  2. The Australian dollar also moved up against the EUR, GBP, NZD and JPY
  3. Australian Unemployment fell from 5.3 to 5.2%

AUD to USD exchange rate

Time Open Low High
Today 0.6789
In the last 24hrs 0.6736 0.6791
In the last week 0.6724 0.6791
In the 3 months 0.6712 0.7064

How it happened

The Aussie dollar (AUD) jumped higher against all currencies Thursday morning as soon as the unemployment figures came out.

The figures were better than expected. They showed unemployment falling from 5.3 to 5.2%. This has been one of the more positive pieces of economic data that the market has seen in recent weeks.

Immediately, the chances of an interest rate cut in November fell which helped the AUD higher.

What to watch

At the end of the week, China growth (GDP), Retail sales and Industrial Production figures come out rounding out a jam packed week.

On Friday, there is also a speech from Robert Kaplan of the US Federal Reserve

Updated: Posted on

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