3 Apr 2015
AUD/USD rises to near 0.7700 after nonfarm payrolls
FXStreet (Córdoba) - AUD/USD jumped to fresh daily highs extending its recovery from 6-year lows after data showed the US economy added fewer jobs than anticipated in March.
US nonfarm payrolls showed the economy created only 126,000 new jobs in March, well below expectations of 244,000 and less than half of the 264,000 jobs added in February (revised down from 295,000). January gain was also revised down to 201,000 versus 239,000.However, the unemployment rate stayed unchanged at 5.5% as expected.
AUD/USD spiked to a high of 0.7692 as the knee-jerk reaction, but faltered ahead of the 0.77 mark. At time of writing, the pair is trading at 0.7650, 0.79% above its opening price.
However, the Aussie remains near a 6-year low of 0.7532 struck yesterday amid expectations the RBA will cut rates next week. It remains to be seen if the weak US employment data will effectively lower expectations of a rate hike by the Fed and hence slow the uptrend of the greenback witnessed over the Q1.
US nonfarm payrolls showed the economy created only 126,000 new jobs in March, well below expectations of 244,000 and less than half of the 264,000 jobs added in February (revised down from 295,000). January gain was also revised down to 201,000 versus 239,000.However, the unemployment rate stayed unchanged at 5.5% as expected.
AUD/USD spiked to a high of 0.7692 as the knee-jerk reaction, but faltered ahead of the 0.77 mark. At time of writing, the pair is trading at 0.7650, 0.79% above its opening price.
However, the Aussie remains near a 6-year low of 0.7532 struck yesterday amid expectations the RBA will cut rates next week. It remains to be seen if the weak US employment data will effectively lower expectations of a rate hike by the Fed and hence slow the uptrend of the greenback witnessed over the Q1.