The Australian dollar fell in Asian trade on Thursday against a basket of major currencies, and gave up a three-month high against the US dollar, on track for the first loss in seven days on profit-taking. 

Earlier Australian labor data showed the economy returned to strong job creation with lower than expected unemployment, but it probably won’t impede the RBA’s policy easing strategy.

The Price

The AUD/USD price fell 0.3% today to $0.6351, with a session-high at $0.6377.

The pair rose 0.4% on Wednesday, the sixth profit in a row, hitting a three-month high at 63.92 cents following strong Chinese data.

Australian Labor Market

Australia's unemployment came at 4.1% in March, up from 4.0% in the previous reading, but below estimates of 4.2%.

Australia’s economy added 32.2 thousand new jobs in March, below estimates of a 39.8 thousand addition, while the previous reading was revised to show a low of 52.8 thousand jobs. 

Australian Rates

The odds of a 0.25% interest rate cut by the Reserve Bank of Australia in May stood at a full 100%.

The RBA maintained interest rates unchanged at 4.1% earlier this month but said the May meeting provides a good opportunity to reconsider monetary policies. 

Australia’s economy added 32.2 thousand new jobs in March, below estimates of a 39.8 thousand addition, while the previous reading was revised to show a low of 52.8 thousand jobs. 

Australia's unemployment came at 4.1% in March, up from 4.0% in the previous reading, but below estimates of 4.2%.

Most cryptocurrencies rallied on Wednesday as the risk appetite weakened in the market due to Trump’s trade wars.

US President Donald Trump ordered a full tariff review of US critical minerals imports in another escalation in his trade war with global trade partners.

Trump said that US reliance on mineral imports raise national security risks and hurt defense capabilities and price stability, hinting at potential tariffs at some of these imports.

Otherwise, Fed Chair Jerome Powell said that tariffs and the ongoing trade war between the US and the world, especially China, could weaken the Fed’s ability to contain inflation and boost US growth.

Powel expects inflation to rise and growth to slow down, but it’s still not clear which one of them needs more focus amid trade uncertainty. 

Powell said the Fed is assuming a wait and see stance until the dust clears before taking a monetary policy decision.

He also expects the economy  to move away from full employment and contained inflation targets due to the impact of tariffs.

Ethereum 

On trading, ethereum tumbled 1.5% on Coinmarketcap as of 20:22 GMT to $1590.

Ripple

Ripple slipped 0.6% as of 20:22 GMT to $2.11

Solana

Solana surged 4.1% as of 20:22 GMT to $133.3.