Article By RoboForex.com
AUDUSD remains under slight pressure and continues falling.
The Australian Dollar has been slowly falling against the USD for the last several days. The current quote for the instrument is 0.7311.
The statistics published in the morning showed that the Unemployment Rate in Australia dropped to 4.5% in August after being 4.6% the month before and against the expected reading of 5.0%.
At the same time, the Employment Change was -146.3K after being 3.1K in July and against the expected reading of -78K.
People find it very difficult to find a job and be available for employability during lockdowns. Some restrictions that are still effective do complicate the labour sector recovery. Such mixed statistics may indicate that the sector remains unstable and can’t provide enough support to the country’s economy.
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The factor that prevents the Aussie from falling much lower is the current weakness of the American Dollar.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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