News and Market Analysis

AUD struggles after jobs data

Aussie jobs data came in better than expected with Australian employment increasing by +111K new jobs unemployment at +6.8%, lower the the +7.7% expected. The AUD reacted positively rallying 30 pips as speculation of further rate cuts have been quashed.

But the rally was short lived as it retraced and loosing all its gains to sit at a low of 0.7255. This due to the strong US dollar across all pairs after a positive FED economic assessment.

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