Australian Dollar Falls as Soft Jobs Data Trims RBA Rate Hike Bets

By DailyFx | August 06, 2014 AAA

DailyFX.com -

Talking Points:

  • Australia’s Employment Change for July Comes in at -0.3K vs. 13.2K Expected, 14.9K Prior Month
  • Australia’s Unemployment Rate for July Comes in at 6.4% vs. 6.0% Expected, 6.0% Prior Month
  • Australian Dollar Fell as the Employment Report Further Delayed Interest Rate Hike Expectations

The Australian Dollar fell after the Bureau of Statistics reported Australia’s employment statistics for the month of July. The economy lost 0.3K jobs, against market expectations of a 13.2K addition and June’s revised figure of a 14.9K increase. The headline unemployment rate increased to 6.4 percent, the highest since June 2002. The markets were expecting a print at 6.0 percent, unchanged from June. The economy added 14.5K full-time jobs while 14.8K part-time jobs were lost.

The Australia Dollar tracked backward against major global currencies likely because the Employment report further delayed interest rate hike expectations from the RBA. The central bank kept its monetary policy unchanged earlier this week, maintaining a commitment to a “period of stability” in the headline lending rate. The benchmark Australian 10-year government bond yield fell alongside the Aussie after the report was released.

Australian Dollar Falls as Soft Jobs Data Trims RBA Rate Hike Bets

AUDUSD [15 mins – 08/07/2014] Chart created using FXCM Marketscope

comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center