The Australian Dollar is correcting. Overview for 23.01.2020
AUDUSD slowed down its decline; the pair is correcting thanks to some strong numbers on the employment.
On Thursday, the Australian Dollar is regaining some positions against the USD. The current quote for the instrument is 0.6871.
The numbers published in the morning showed that Employment Change was 28.9K in December after being 38.5K in the previous month and against the expected reading of 12.2K.
The Unemployment Rate dropped to 5.1% in December after being 5.2% the month before. It is better than market expectations, which implied no changes. The better the numbers of the Australian market, the more support for the Aussie.
The Aussie is having a very hard time in January, mostly due to natural disasters in the country. Massive fires in Australia did a lot of harm to nature, infrastructure, and the entire Australian economy – the damage that is yet to be calculated. Consequences will surely influence the statistics, the country’s GDP in the first place.
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