Aussie Rises As Australia Unemployment Rate Falls
18 Maggio 2017 - 4:14AM
RTTF2
The Australian dollar strengthened against other major
currencies in the Asian session on Thursday, after data showed that
jobless rate in Australia fell more than expected in April.
Data from the Australian Bureau of Statistics showed that the
jobless rate in the country was a seasonally adjusted 5.7 percent
in April. That beat forecasts for 5.9 percent, which would have
been unchanged from the March reading.
The Australian economy added 37,400 jobs to total 12,099,300 in
April. That was well above expectations for a gain of 5,000 jobs
following the downwardly revised addition of 60,000 jobs in the
previous month.
Full-time employment decreased 11,600 to 8,227,400 and part-time
employment increased 49,000 to 3,871,900.
In other economic news, data from the Melbourne Institute showed
that consumer prices in Australia are predicted to have risen 4.0
percent on year in May. That's down from 4.1 percent in April, and
it moves further off of January's multi-year high reading of 4.3
percent.
The Australian Bureau of Statistic's official read on inflation
for the first quarter of 2017 was 2.1 percent on year.
Wednesday, the Australian dollar had fallen 0.05 percent against
the U.S. dollar, 1.96 percent against the yen, 0.62 percent against
the euro, 0.04 percent against the loonie, and 0.77 percent against
the kiwi.
In the Asian trading, the Australian dollar rose to near 2-week
high of 0.7467 against the U.S. dollar and 1.0163 against the
Canadian dollar, from yesterday's closing quotes of 0.7431 and
1.0108, respectively. If the aussie extends its uptrend, it is
likely to find resistance around 0.76 against the greenback and
1.02 against the loonie.
Against the euro, the yen and the NZ dollar, the aussie advanced
to 1.4922, 83.00 and 1.0773 from an early 8-month low of 1.5075,
nearly a 4-week low of 82.11 and a 1-week low of 1.0692,
respectively. The aussie may test resistance around 1.46 against
the euro, 85.00 against the yen, and 1.09 against the kiwi.
In the scheduled events today, U.K. retail sales data for April
is due to be released at 4:30 am ET.
At 3:50 am ET, ECB Executive Board Member Yves Mersch and
Bundesbank President Jens Weidmann will deliver speeches at a
symposium on payment systems of the Bundesbank, in Frankfurt.
At 7:00 am ET, Lorie Logan Senior Vice President at Federal
Reserve Bank is expected to speak at the "Remarks by Lorie Logan",
in New York.
In the New York session, U.S. jobless claims for the week ended
May 13 and U.S. leading indicators for April are slated for
release.
At 8:30 am ET, European Central Bank Executive Board Member Yves
Mersch will give Keynote presentation at Government Borrowers Forum
hosted by the European Stability Mechanism and the Ministry of
Finance of Luxembourg, in Luxembourg.
At 8:45 am ET, ECB Board Member Sabine Lautenschlager is
expected to deliver a speech at the IBF Board meeting in
Berlin.
At 1:00 pm ET, European Central Bank President Mario Draghi is
expected to speak at the University of Tel Aviv.
At 1:15 pm ET, Federal Reserve Bank of Cleveland President
Loretta Mester is expected to speak on Economy and Monetary Policy
before the Economic Club of Minnesota.
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