Australian Dollar Underperforms On Weak Jobs Data
20 Février 2020 - 03:54AM
RTTF2
The Australian dollar traded lower against its most major
counterparts in the Asian session on Thursday, as rising jobless
rate in January bolstered hopes for a rate cut by the Reserve Bank
of Australia.
Data from the Australian Bureau of Statistics showed that
Australia unemployment rate rose a seasonally adjusted 5.3 percent
in January.
That exceeded expectations for 5.2 percent and was up from 5.1
percent in December.
The Australian economy added 13.500 jobs last month to
12,995,400 people, again surpassing forecasts for a gain of 10,000
jobs following the gain of 28,900 jobs in the previous month.
Asian stock markets were mixed despite easing fears about the
coronavirus outbreak and optimism of further stimulus measures by
China to support its economy. On Thursday, China cut the one-year
loan prime rate or LPR by 10 basis points in order to lower
financing costs for businesses.
The aussie fell to 0.6630 against the greenback, a level unseen
since March 2009. The aussie is seen finding support around the
0.62 mark.
The aussie was down against the yen at 73.79. The pair had
finished yesterday's deals at 74.34. If the aussie falls further,
it may find support around the 72.00 area.
The aussie tumbled against the loonie to the lowest since June
2010, at 0.8776. Versus the euro, the aussie dipped to a 9-day low
of 1.6286. The next possible support for the aussie is seen around
0.85 against the loonie and 1.66 against the euro.
Although the aussie dropped to a 2-day low of 1.0429 against the
kiwi after the data, it bounced back in a short while. At
yesterday's close, the pair was worth 1.0452. Looking ahead, U.K.
retail sales for January are due in the European session.
At 7:30 am ET, the European Central Bank publishes account of
January 22-23 policy meeting.
In the New York session, U.S. weekly jobless claims for the week
ended February 15 and leading indicators for January are scheduled
for release.
At 10:00 am ET, Eurozone consumer sentiment for February is set
for release.
AUD vs US Dollar (FX:AUDUSD)
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AUD vs US Dollar (FX:AUDUSD)
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