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The Australian Dollar rallied after strong employment data

2018-11-15 07:34 am | Resource: News | No Views : 233

 The Australian dollar rose against its major counterparts in the Asian session on Thursday, after data showed that the country's unemployment rate fell more-than-expected in October, while employment rose.

Data from the Australian Bureau of Statistics showed Australia's unemployment rate was seasonally adjusted at 5.0% in October.

The Australian economy added 32,800 jobs last month - beating expectations of 20,000 after adding 7,800 jobs the previous month.

High risk spirit

The currency boosted risk appetite as British Prime Minister Theresa May said she had received government support for her proposed deal on Britain's exit from the European Union to move forward. Despite objections, the most prominent position was Scotland

Scottish Prime Minister Nicola Sturgeon on Wednesday accused UK Prime Minister Teresa Mae of ignoring Scotland's interests in Britain's exit negotiations with the EU. Mae was also criticized for calling her only after the government had already taken a decision to accept a British exit package from the European Union.

"The call with the prime minister did not last long, and she tried to tell me that Scotland's interests were protected. I pointed out that there is no single mention of Scotland in the agreement, that it ignores our interests, and puts Scotland in a serious competitive disadvantage, "Sturgeon said on Twitter Earlier in the day, Sturgeon also raised concerns about the government's support plan for Northern Ireland.

Australian Dollar Trading

  • The Australian dollar rose to a 6-day high of 82.74 against the yen from a previous low of 82.09.
  • The Australian dollar rose to a one-week high of 0.7282 against the US dollar, from a previous low of 0.7229.
  • The Australian dollar fell from its previous low of 1.5650 against the euro as the Australian dollar advanced to a 5-month high of 1.5546 if the Australian dollar rose more, 1.54 is likely to be seen as the next resistance levels against the euro.
  • The Australian dollar fell from its previous low of 0.9572 against the Canadian dollar, with the Australian dollar advancing to a 3-month high of 0.9641, respectively. If the AUD rises further, it is likely that 0.98 will be seen as the next resistance levels against the Canadian Dollar.
  • The Australian dollar rose to a 3-day high of 1.0713 against the New Zealand dollar. The Australian dollar found resistance around the 1.09 area.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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