Australian dollar rises on stable unemployment rate

Economies.com
2019-07-18 15:39PM UTC

Australian dollar rose on trading today after mixed economic data but investors focused on the stable unemployment rate, which is unchanged despite adding fewer jobs than expected last month.

 

Government data showed that the Australian economy has added 500,000 jobs in June, while analysts expected an additional 9.1,000 jobs.

 

The unemployment rate in Australia stabilized at 5.2%, unchanged from last month's forecasts, while Australian business confidence rose 6 points.

 

Meanwhile, market fears about the US-China trade war continue, especially after US President Donald Trump's threats to impose more tariffs against Beijing.

 

In terms of trade, at 15:37 GMT, AUD/USD rose by 0.5% to 0.7043, with a high of 0.7044 and a low of 0.7005.

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