AUD/USD CLINGS ABOVE 0.6700 AS US JOBLESS CLAIMS CLIMB
- AUD/USD climbs 0.09%, buoyed by strong Australian jobs data and weaker US employment.
- Australian jobs grow by 50.2K, beating forecasts; Unemployment Rate slightly up at 4.1%.
- US Jobless Claims rise to 243K, hinting at labor market slack and promoting a risk-on mood.
The Australian Dollar extended its gains on Thursday after data from the United States (US) showed the labor market continues to cool, following last week’s Initial Jobless Claims (IJC) report. Therefore, the AUD/USD pair trades at 0.6734, gaining 0.09%.
AUD/USD advances on strong Aussie’s jobs data
US equity futures point to a positive start, depicting a risk-on environment. This helps the high-beta status of the Aussie Dollar, which was boosted during the Asian session after posting a strong jobs report.
The Australian Bureau of Statistics (ABS) revealed that Employment Change increased by 50.2K, exceeding estimates of 20K and May’s 39.5K reading. Nonetheless, the Unemployment Rate ticked higher from 4% to 4.1%.
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