Currency Note Worldwide

Australian dollar benefits from fall in unemployment

By Smart Currency September 11th, 2014

  • Overnight we saw the Bank of New Zealand release their latest interest rates and monetary policy, while later today sees manufacturing data from the country.
  • Last night also saw the release of labour data from Australia in the unemployment change and unemployment rate which dropped to 6.1% from 6.4%. This boosted the Australian dollar short term.
  • Chinese inflation data released overnight show the Chinese economy losing momentum which is a worry for commodity backed currencies which have been reliant on a booming Chinese economy for their exports.
  • Emerging market currencies such as the Turkish lira and the South African rand dropped to new lows in many months on Wednesday. This is due to expectations of an interest rate hike in the US.

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