AUD guided by strong employment data – BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH note that Australia reported strong employment data and the 61.6k jobs created were three-times for than expected.

Key Quotes

“It grew nearly 42k full -time positions in November after a revised 31k in October (from 24.3k). The participation rate jumped to 65.5%, but the unemployment rate was unchanged at 5.4%. Australian interest rates jumped on the news. Although Aussie two-year rates had dipped below similar US rates, that is not the case. A 9-10 bp premium is back in place. The Australian dollar's advancing streak is extending for a fourth session. The next target is the $0.7700-$0.7740.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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