Investing.com – The Australian dollar fell to a seven-day low against its U.S. counterpart on Thursday, as a drop in the number of full time workers in January weighed on the currency.
AUD/USD hit 1.0049 during late Asian trade, the pair’s lowest since February 1; the pair subsequently consolidated at 1.0055, tumbling 0.68%.
The pair was likely to find support at 0.9962, the low of February 1 and resistance at 1.0151, Wednesday’s high.
Earlier in the day, official data showed that full-time employment dropped in January, fueling concern the economy is growing too slowly to prompt the central bank to raise interest rates.
The Australian Bureau of Statistics said that full time employment declined by 8,000 in January. Employers added 24,000 jobs, an 11th month of gains.
The unemployment rate held at an as-expected seasonally adjusted 5.0%.
The Aussie was also down against the euro, with EUR/AUD rising 0.17% to hit 1.3586.
Later in the day, the U.S. was to release its key weekly report on initial jobless claims, while the Governor of the Reserve Bank of Australia was to speak.
AUD/USD hit 1.0049 during late Asian trade, the pair’s lowest since February 1; the pair subsequently consolidated at 1.0055, tumbling 0.68%.
The pair was likely to find support at 0.9962, the low of February 1 and resistance at 1.0151, Wednesday’s high.
Earlier in the day, official data showed that full-time employment dropped in January, fueling concern the economy is growing too slowly to prompt the central bank to raise interest rates.
The Australian Bureau of Statistics said that full time employment declined by 8,000 in January. Employers added 24,000 jobs, an 11th month of gains.
The unemployment rate held at an as-expected seasonally adjusted 5.0%.
The Aussie was also down against the euro, with EUR/AUD rising 0.17% to hit 1.3586.
Later in the day, the U.S. was to release its key weekly report on initial jobless claims, while the Governor of the Reserve Bank of Australia was to speak.