It was a good week in the end for the Australian economy as it ended Thursday having gained on nearly every currency. Business confidence from Down Under came out on Tuesday much lower than the previous month’s, and the Australian dollar dropped off as a result of this. However, data out overnight last night painted a healthy picture of Australian employment, as both the unemployment rate and change exceeded expectations, the latter convincingly so. After this positive result the Australian economist Koukoulas suggested that the next interest rate move would be up!
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.