AUD depreciated against US dollar despite positive job reports
Pair is supported just above $0.6900 levels and touched 4 month low at $0.6920 levels. To the down side immediate support level is seen at $0.6907 levels, September 2015 low. Australian labour statistics on Thursday show…
Pair is supported just above $0.6900 levels and touched 4 month low at $0.6920 levels.
To the down side immediate support level is seen at $0.6907 levels, September 2015 low.
Australian labour statistics on Thursday showed the unemployment rate holding at 5.8% in December, the equal lowest in a year-and-a-half, with net job growth sliding by 1,000.
The Australian dollar eased to $0.6923 against the US dollar after the figures were released, from $0.6935 before.
With unemployment holding just below the bank's forecast range for the third month in a row in December there is less pressure on the RBA to stimulate growth.
Markets are forecasting less than a 20% chance of a RBA rate cut at the bank's February meeting.
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