Australia’s dollar slid versus all its major counterparts after data showed payrolls unexpectedly fell and the unemployment rate climbed to a four-year high.
The Aussie declined for the first time in a week against the greenback, retreating from the strongest level in more than two months. The New Zealand dollar climbed for a fifth day, reaching the highest in more than three weeks, after the nation’s central bank signaled it may raise its key rate from a record low earlier than previously expected.
“You can see this as a genuinely soft employment report,” said Ray Attrill, the global co-head of currency strategy at National Australia Bank Ltd. “The unemployment rate did go up, even though the participation rate fell. The fall back in the Aussie is justified.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015