Aussie descends, kiwi leaps after data
On Thursday, the Australian dollar slumped against is American counterpart, notwithstanding the publication of a positive Australian jobs report. Meanwhile, the New Zealand dollar surged, reacting to strong economic growth and the Fed’s intact monetary policy.
The currency pair AUD/USD went down 0.27%, trading at 0.7388.
On Thursday, the Australian Bureau of Statistics reported that in May, the total number of employed folks increased by 17,900, thus ruining expectations for a 15,000 surge. In April, the overall number of employees went up by 900.
As for the unemployment rate, it remained intact, trading at 5.7% last month, which is in line with traders’ hopes.
Besides this, the Melbourne Institute announced its inflation expectations for the next 12 months soared from 3.2% to 3.5% last month.
The currency pair NZD/USD edged up 0.65%, trading at 0.7080.
On Thursday, statistics New Zealand told that the country’s GDP grew 0.7% during the first quarter,thus exceeding hopes for a 0.5% surge.