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AUD/USD Rallies to 0.7630 on Robust May Jobs Data

Posted by Chris Advincula on Jun 15, 2017 6:44:29 AM

AUD.6.15.2017.jpg 

Australia's unemployment rate fell to better than expected 5.5% versus the median estimate of 5.7% in May from 5.7% in the previous month of April. There were 42,000 jobs that was added in May against the median forecast of 15,000.

The Australian dollar rose from 0.7585 to test 0.7632 (+47 pips) on the initial reaction to the jobs data in the prior Asian session. The rate eased down to its former support level of 0.7585 as profit taking ensued in the late Asian session and into the European morning session.

 

Topics: AUDUSD, Forex, Australian Economy

 

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