The AUD/USD pair continues falling on Thursday; the Aussie reached two months’ low.
The Australian Dollar is still moving to the downside against the USD. The current quote for the instrument is 0.7470. It’s a bit higher than yesterday, when the pair updated September’s low.
The Australian statistics published in the morning was rather neutral. The Unemployment rate in October remained unchanged, 5.6%. At the same time, the Participation Rate in the country decreased up to 64.4% against 64.5% the month before and the same expectations.
The components of the report weren’t as neutral as the main number. The Employment Change added just 9.8 thousand against expectations of 20.0 thousand. And even worse was the fact that September number of -9.8 thousand was revised to -29.0 thousand.
The Part Time Employment in October reduced by 31.7 thousand after adding 45.3 thousand in September. The Full Time Employment added 41.5 thousand after losing 73.0 thousand the month before. However, if we disregard this quick migration from part time to full time, the overall situation on the Australian employment market looks rather neutral without serious declines.
Right now, the market isn’t moving against the Aussie, it is moving in favor of the USD. On Thursday evening, Janet Yellen, the head of the Fed, will report to the Congress. This will be her first speech after election of Donald Trump as the 45th
American president. However, this is unlikely to change anything in her speech essentially, but in any case, the report itself may be interesting.
RoboForex Analytical Department
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