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Indonesia News Portal for Traders | Financial & Business Updates

17 October 2024 09:22  |

Australian dollar strengthens after solid jobs data

The Australian dollar found support after the release of Australian employment figures on Thursday. Australian Employment Change rose by 64.1K in September, bringing total employment to a record 14.52 million. Traders are anticipating US Retail Sales data, with expectations for a 0.3% MoM increase in September, up from 0.1% previously.

The Australian Dollar (AUD) snapped a three-day losing streak against the US Dollar (USD) after a strong Australian jobs report was released on Thursday. Australia’s seasonally adjusted Employment Change jumped by 64.1K in September, bringing total employment to a record 14.52 million. This reading far exceeded market expectations for a 25.0K increase, following a revised 42.6K increase in the previous month.

Meanwhile, Australia's seasonally adjusted unemployment rate held steady at 4.1% in September, in line with the revised August figure and lower than the 4.2% anticipated. The number of unemployed fell by 9.2k to 615,700. Source: FXStreet

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