AUDUSD is trading at its 10-day lows on Thursday; the Aussie is quickly retreating.
The Australian Dollar got under bearish pressure against the USD. The current quote for the instrument is 0.7098.
The statistics published in the morning showed that the Unemployment Rate in Australia expanded up to 6.9% in September after being 6.8% in the previous month and against the expected reading of 7.0%.
The Employment Change showed -29.5K in September after being 129.1K in August. The indicator was expected to show some bad numbers (-38K) but the actual reading turned out to be better.
The latest statistics once again reveals the fact that even such a stable labor market as in Australia suffers a lot due to the bankruptcy of many enterprises and loss of jobs. The sector can’t create new jobs very quickly and that may later influence other economic indicators in the country.
The employment sector will surely reach stability a little bit later but it’s clearly seen right now that it won’t be easy.
Another thing that puts pressure on the Aussie is the news about drops in coal export and problems with its deliveries in the future.
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.