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Australian Dollar Gets Boost from Very Good Employment Report

August 15, 2019 at 11:06 by Vladimir Vyun

David Unaipon on Australian 50-dollar billThe Australian dollar rallied today, though the currency has trimmed its gains by now. The Aussie got a boost from the employment report that came out much better than was expected.

The Australian Bureau of Statistic reported that employers added 41,100 jobs in the period from June to July after shedding 2,300 in the previous month. That was a far bigger increase than 14,200 predicted by analysts. Gains were registered in both full-time and part-time employment. The unemployment rate remained stable at 5.2%.

Released separately by the Melbourne Institute, inflation expectations increased from 3.2% in July to 3.5% in August.

AUD/USD gained from 0.6746 to 0.6772 as of 11:05 GMT today, touching the high of 0.6790 intraday. EUR/AUD slipped from 1.6504 to 1.6476, and its daily low was at 1.6407. AUD/JPY edged up from 71.45 to 71.62 but retreated from the session maximum of 72.50.

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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