Aussie falls after unemployment spike

Australian dollar fell against greenback today on mixed economic data, and after the markets absorbed the US Federal Reserve decision.

The Australian economy revealed today that the GDP grew by 0.5% in the second quarter, higher than forecast of 0.4%.

Whilst, the unemployment rate rose to 5.3% during August, worse than forecasts of 5.2%.

In addition to 34.7 thousand new added jobs in August, higher than forecasts of 15.2 thousand jobs.

The US Federal Reserve cut interest rates yesterday by 25 basis points to between 2.00% and 1.75%, which is the second rate cut since 2008.

While the Fed Chairman Jerome Powell stated that any decisions to cut or raise interest rates will be based on the economic situation.

By 15:54 GMT, AUD/USD fell by 0.5% to 0.6797, with a high of 0.6833 and a low of 0.6779.