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Good Employment Makes Australian Dollar Stronger

March 14, 2013 at 9:39 by Vladimir Vyun

Australian coins and banknotesThe 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.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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