AUDUSD is capitalising on the “greenback” and market players’ interest in risky assets.
The Australian Dollar is growing against the USD on Thursday. the current quote for the instrument is 0.7413.
The statistics published by Australia in the morning showed that the Unemployment Rate expanded up to 4.6% in September after being 4.5% the month before. Anyway, it’s better than expected, 4.8%.
The Employment Change in the country was -138K after being -146K in August and against the expected reading of -120K. The Participation Rate showed 64.5% in September after being 65.2% in the previous month. Full-Time Employment was 26.7K after being -68K in August. Part-Time Employment showed 164.7K.
There were certain restrictions in the Australian economy during the pandemic, they can explain fluctuations in the data.
At the same time, investors are sure that the fourth quarter will be more positive for the labour market, if for no other reason than because the two largest states are planning to remove COVID-related restrictions in the next couple of weeks.
The Aussie is currently supported by the weak “greenback” and taking full advantage of the situation.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.