Australian Jobs Report Investor Confusion, What's the Fate of the AUD? - Kakiforex | Forex markets for the smart money. Australian Jobs Report Investor Confusion, What's the Fate of the AUD? Australian Jobs Report Investor Confusion, What's the Fate of the AUD?

May 21, 2021

Australian Jobs Report Investor Confusion, What's the Fate of the AUD?

 The focus of the Asian session saw the release of Australian employment data showing mixed readings in April, with large losses in job changes and the unemployment rate declining.


Employers in Australia have unexpectedly cut more jobs in the past month after wage subsidy assistance by the government also known as JobKeeper expired in late March.


Jobs declined by 30,600 jobs, from an increase of 77,000 recorded in the previous month and also missed expectations for an increase of 17,500.



Meanwhile, the unemployment rate showed a decline from 5.7% to 5.5% and better than expected to drop at 5.6%, as fewer people are looking for jobs.


This latest reading is also the lowest record since March 2020, as the economy recovered further from the Covid-19 crisis that hit.


The Aussie dollar traded slightly higher in the Asian session following the publication, but the movement exhibited was limited due to mixed readings and the resurgence of the US dollar.