The Australian Dollar continues recovering. Overview for 23.04.2020
On Thursday afternoon, AUDUSD is moving upwards and trying to keep its positive momentum.
The Australian Dollar continues growing against the USD on Thursday. the current quote for the instrument is 0.6346.
The statistics published in the morning showed that the Manufacturing PMI dropped to 45.6 points in April after being 49.7 points the month before. The Services PMI collapsed down to 19.6 points after being 38.5 points over the same period of time.
At the same time, the labor market in the country is looking quite well-balanced even considering that the number of vacancies lost 5.3% in March. The Service sector is trying to keep jobs hoping that the country’s economy may reach stability soon thereafter.
Still, one should admit that the number of vacancies, seasonally adjusted, of course, is currently 22% below the average reading. It means that the labor market is not creating new jobs now, because it doesn’t know whether it will be able to provide people with workplaces and salaries.
Market players’ attitude to risks is quite neutral today, thus allowing the Aussie to rise a little bit.
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