Aussie rises on strong economic data

Economies.com
2019-08-15 16:45PM UTC

Australian dollar rose against the greenback today after the release of strong economic data amid cautious trading in global markets.

 

Global markets were immersed by cautious sentiment after the sharp losses in stock markets yesterday, which occured due to the recession fears over the US economy.

 

Which came after the two-year and 10-year US bond yield curve inversion, which the market interpreted as a near recession for the US.

 

While the global central banks are heading for more interest rates cuts to face these fears and to attract capital and stimulate their economies.

 

The Australian economy revealed today that 41.1 thousand jobs has been added last month, surpassing forecasts of 14.2 thousand jobs, while the unemployment stayed at 5.2% unchanged.

 

In terms of trading, by 16:42 GMT, AUD/USD rose by 0.5% to $0.6783, with a high of $0.679 and a low of $0.6745

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