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Australian Dollar Higher Across the Board After Employment Report

September 13, 2018 at 13:10 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar gained against all of its most-traded rivals today on the back of solid employment growth, which was faster than expected, and the improving market sentiment.

The Australian Bureau of Statistics reported that employment jumped by 44,000 in August after falling by 4,300 in July. That is compared to the predicted increase of 16,500. The unemployment rate slipped from 5.4% to 5.3%, in line with expectations.

Released separately, the Melbourne Institute Survey of Consumer Inflationary Expectations remained unchanged in September at 4.0%.

Meanwhile, the traders’ mood improved after the news that China and the United States are planning to resume trade talks. While it was beneficial to all risky assets, the Aussie especially welcomed the news as China is Australia’s biggest trading partner, therefore the Australian economy strongly depends on China’s well-being.

AUD/USD climbed from 0.7164 to 0.7226 as of 13:01 GMT today. EUR/AUD declined from 1.6205 to 1.6167. AUD/JPY jumped from 79.74 to 80.50.

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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