The AUD is winning back Monday losses for the second day in a row and seems ready to test the August highs.
On Thursday, the Australian dollar is trading on the upside. The current quote in the AUD/USD pair is 0.7331.
Today it was announced that the unemployment rate in Australia at the end of September coincided with the August figure of 6.2%. The level of employment declined by 5.1 thousand, which is slightly higher than the projected reduction of the indicator by 5.0 thousand. The reduction is minor, so the Australian dollar left this without special attention.
The components of the employment report shows that the proportion of economically active population has slightly decreased - it amounted to 64.9% vs. 65.0%. The increase in the number of jobs with part-time employment was 8.9 thousand, the number of full-time jobs decreased by 13.9 thousand.
Another report is very interesting - on inflation expectations among the Australian population. In October expectations came to 3.5%, above the level of September at around 3.2%. The data in this release demonstrates that the following 10-12 months, ordinary Australians will be waiting for the increase of the consumer price index. This in turn means that the Reserve Bank of Australia at the forthcoming meeting may speak more rigorously and at the time push the intent to soften the economy.
In other words, the higher the inflation expectations among the population, in this case, the more positive the market reaction. This release has supported the position of the Australian currency.
RoboForex Analytical Department
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