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Australian Dollar Propelled by Solid Employment Data

November 15, 2018 at 10:10 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar rose today, propelled higher by strong employment figures. The falling inflation expectations did not affect the currency at all. While the Aussie has trimmed gains against some of its most-traded rivals by now, the currency remains safely above the opening level.

The Australian Bureau of Statistics reported that employment increased by 32,800 in October on a seasonally adjusted basis. That is compared to the increase of 19,900 predicted by specialists and the small gain by 7,800 registered in September. Full-time employment increased by 42,300, while part-time employment decreased by 9,500.

The unemployment rate remained stable at 5.0%, whereas experts had predicted an increase to 5.1%. The participation rate increased by 0.1%.

Released separately, the Melbourne Institute Inflation Expectations dropped from 4.0% in October to 3.6% in November.

AUD/USD rose from 0.7228 to 0.7268 as of 9:59 GMT today, touching the high of 0.7298 intraday. EUR/AUD dropped from 1.5625 to 1.5529. AUD/JPY went up from 82.11 to 82.35, and its daily high was at 82.81.

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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