AUD / USD
According to the data released on Thursday, the unemployment rate in Australia rose from 5.5% to 5.6%, which contributed to the decline of the Australian currency by symbolic 5 points. However, the AUD / USD grew during the US session in the first half of the day . The employment structure was good. Unemployment increased due to the growth of economically active population from 65.5% to 65.6%. Over the month, there were 22.6 thousand new jobs created against expectations of 20.3 thousand, and full-time employment increased by 32.7 thousand against -25.1 thousand in March.
The traditional drivers of the Australian dollar commodities were in a growing position. Oil 0.15%, iron ore 0.31%, copper 0.26%. Also, important agricultural commodities for Australia showed growth, wheat at 1.66%, and livestock at 1.15%.
Strengthening of the US dollar is constrained by uncertainty over NAFTA negotiations, good conditions for the temporary growth of the «Australian» were created. We are expecting the AUD/USD pair at 0.7570 and further in the range of 0.7610 / 20.
* The presented market analysis is informative and does not constitute a guide to the transaction.