Aussie Happy with StatsMarket Review, July 19, 2018
The Aussie is still slightly rising Thursday against the greenback, currently trading at $0.7395. During the Asian session it was going up very actively, but then failed to keep its advantage.
The stats released earlier today showed the unemployment in Australia remained at 5.4% in June, just as expected. Meanwhile, the number of jobs increased by as much as 50,900, with just 13,400 in May and 16,700 expected. Curiously, most jobs created are full time, +41,200, with less than 10k part time. The number of hours worked in June also went up, which is positive for both manufacturing and the Australian economy in general.
It looks like the job market in Australia is quite strong, with the number of jobs rising, which allows most people to find job quite easily. This will then influence the consumer confidence, inflation, and economic growth positively.
The NAB business confidence index in Australia edged down to 7 points in Q2, after reaching 8 in Q1. This is most likely the reaction to the risks arising from trade wars enforced by the US to Australia's strategic partner, China.
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