AUDUSD intends to keep its positive momentum; statistics are “to the rescue”. The Australian Dollar continues slowly rising against the USD. The current quote for the instrument is 0.7201. According to the data published today the Unemployment Rate in Australia dropped to 4.6% in November after being 5.2% the month before and against the expected reading of 5.0%. The Participation Rate went from 64.7% in October to 66.1% in November. The Full-Time Employment Change showed 128.3K after being -47.1K in October, while Employment Change was 366.1K after being -56K in the previous month and against the expected reading of 205K.
The data was very strong: the employment significantly improves, while the unemployment reduces, and it all happens amid the working population growth.
However, the Reserve Bank of Australia Governor thinks that the next year won’t see any rate hikes even if the labour market continues to recover. The regulator is nowhere near the tightening of its monetary policy and ready to wait for perfect conditions. At the same time, the regulator said it might taper the QE programme as early as February and close it in May. It’s also positive for the Aussie.
