Australian dollar lifted from lows by strong jobs data
Australian dollar got a much-needed fillip on Thursday after surprisingly strong jobs data pushed back on wagers for an earlier cut in interest rates, lifting bond yields.
The figures showed a surprise drop in unemployment, hitting an eight-month low of 3.9% in November and wrong-footing analysts who had forecast a 4.2% jump in jobless claims.
Employment also climbed 35,600 in November, topping forecasts of 25,000 and extending the labour market's resilient run this year.
This might serve as a shock for the Reserve Bank of Australia (RBA), which had forecast unemployment to reach 4.3% this month, and could also lessen the case for a rate reduction as early as February.
«These data support our expectations that the RBA will keep rates on hold until at least May,» said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia.
Stock Trading
Cryptocurrency Made Easy: Cryptocurrency Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
A2Z of Stock Trading — Online Stock Trading Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Technical Trading Made Easy: Online Certification Course
By — Souradeep Dey, Equity and Commodity Trader, Trainer
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
By — Souradeep Dey, Equity and Commodity Trader, Trainer
Stock Trading
A2Z of Stock Market for Beginners: Stock Market Course For Beginners
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Options Scalping Made Easy
By — Sivakumar
