AUD Rises on Decline in Unemployment
February 11th, 2010 Posted in Aussie - Kiwi
The Australian Dollar gained versus all 16 of its most traded currency counterparts today after the release of the employment data which showed the number of people employed increased by 52,700 last month, the biggest advance since December 2006. The unemployment rate fell to 5.3%. The AUD climbed on speculation the continuous improvement in Employment will prompt Reserve Bank Governor Glenn Stevens to raise rates on March 2nd after he unexpectedly kept them unchanged this month.
Australia’s currency appreciated over 1% to currently trade at 89.00 U.S. cents, from 87.55 cents yesterday. The currency gained as much as 1.8% against the Yen to currently trade at 79.83, compared with 78.72. New Zealand’s Dollar advanced 0.8 % to 70.00 U.S. cents from 69.28 and climbed 0.4% to 62.81 yen from 62.30
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Tags: AUD employment data, AUD forecast, AUD trading, AUD/USD trading
