AUDUSD stopped growing on Thursday after rallying the day before.
The Australian Dollar stopped its rally against the USD. The current quote for the instrument is 0.7727.
The statistics published in the morning showed that the employment sector is slowly improving. The Unemployment Rate decreased from 5.8% in February to 5.6% in March and that’s better than expected. The Employment Change showed 70.7K in March after being 88.7K the month before and against the expected reading of 35.2K.
Actually, the current unemployment in Australia is only 0.4% higher than the pre-covid value, which is excellent.
The Participation Rate in the Australian economy is 66.3%, which is quite close to its all-time high.
The job number recovery is rather irregular due to higher activity in Queensland and lower in New South Wales and Victoria. However, it’s quite normal.
The numbers published today are pretty positive for the Aussie. Another thing that supports the Australian currency right now is a local weakness of the “greenback”.