Aussie gains ground following strong jobs data

Economies.com
2023-03-16 19:08PM UTC

Australian dollar rose against most major rivals, following strong jobs data while concerns about the banking crisis in the US and Switzerland calm down.

 

The government reported an increase of 64.6 thousand jobs in February, while analysts expected an increase of 46.7 thousand. 

 

Australia's unemployment fell to 3.5% last month from 3.7%, while analysts expected a drop to 3.6%. 

 

AUD/USD rose 0.5% to 0.6653 as of 19:02 GMT. 

 

The Dollar

 

The dollar index fell 0.3% to 104.3 as of 18:54 GMT, with a session-high at 104.7, and a low at 104.2. 

 

US unemployment claims fell to 192 thousand in the week ending March 11 from 211 thousand, below estimates of 205 thousand.

 

The Euro

 

EUR/USD rose 0.3% to 1.0613, as of 19:05 GMT.

 

The European Central Bank voted to increase interest rates by 50 basis points for the third time in a row to 3.5%, the highest since 2008, and matching expectations.

 

The ECB didn't present any details about future moves even as inflation remains stubbornly high.

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