Investing.com - The Australian dollar jumped against its U.S. rival during Thursday’s Asian session following a bullish employment report from down under.
In Asian trading Thursday, AUD/USD soared 0.70% to 0.9240. The pair was likely to find support at 0.9084, Tuesday's low and resistance at 0.9250, the high of July 2.
Earlier Thursday, the Australian Bureau of Statistics said that employers there added 10,300 jobs last month following the loss of 700 jobs in May. The June reading easily beat economists’ estimates that called for the loss of 2,500 jobs.
The Bureau of Statistics added that Australia's unemployment rate rose to 5.7% from 5.6% in May. The May reading was revised from 5.5%. Analysts had expected Australian unemployment rate to rise to 5.6% last month.
Still, the report was a welcome bit of relief for the downtrodden Aussie, which has been under pressure amid a flurry of slack data.
On Wednesday, offficial data showed that Chinese exports fell unexpectedly in June from a year earlier, fuelling concerns over a slowdown in global demand. Imports were also lower on a year-over-year basis, indicating that domestic demand was weakening. China is Australia's biggest export partner.
In Australia, the Westpac Banking Corporation said consumer sentiment fell 0.05% in July, following a 4.70% increase the previous month.
The Aussie was also helped by comments from Federal Reserve Chairman Ben Bernanke made after the close of U.S. markets Wednesday. Bernanke’s comments implied the end of the Fed’s USD85 billion-per-month easing program is not as close as previously expected, sending the greenback down in the process.
Elsewhere, AUD/JPY added 0.47% to 91.87 while AUD/NZD fell 0.28% to 1.1669.
In Asian trading Thursday, AUD/USD soared 0.70% to 0.9240. The pair was likely to find support at 0.9084, Tuesday's low and resistance at 0.9250, the high of July 2.
Earlier Thursday, the Australian Bureau of Statistics said that employers there added 10,300 jobs last month following the loss of 700 jobs in May. The June reading easily beat economists’ estimates that called for the loss of 2,500 jobs.
The Bureau of Statistics added that Australia's unemployment rate rose to 5.7% from 5.6% in May. The May reading was revised from 5.5%. Analysts had expected Australian unemployment rate to rise to 5.6% last month.
Still, the report was a welcome bit of relief for the downtrodden Aussie, which has been under pressure amid a flurry of slack data.
On Wednesday, offficial data showed that Chinese exports fell unexpectedly in June from a year earlier, fuelling concerns over a slowdown in global demand. Imports were also lower on a year-over-year basis, indicating that domestic demand was weakening. China is Australia's biggest export partner.
In Australia, the Westpac Banking Corporation said consumer sentiment fell 0.05% in July, following a 4.70% increase the previous month.
The Aussie was also helped by comments from Federal Reserve Chairman Ben Bernanke made after the close of U.S. markets Wednesday. Bernanke’s comments implied the end of the Fed’s USD85 billion-per-month easing program is not as close as previously expected, sending the greenback down in the process.
Elsewhere, AUD/JPY added 0.47% to 91.87 while AUD/NZD fell 0.28% to 1.1669.