The Aussie rose against the US Dollar, following the release showing unexpected decrease in Australia’s unemployment. On the report, the AUD/USD currency pair showed high volatility to eventually appreciate by 0.15% or 11 base points to the 0.7598 mark and continue consolidation at a slightly stronger area of 0.7600.
The Australian Bureau of Statistics said that the country’s employment grew for a 13th month in succession, while the jobless rate dropped to the lowest rate in more than four years. Data indicated that Australian unemployment rate dipped to 5.4% in October. Despite solid jobs growth, the job market remained slack due to weak pay growth, setting inappropriate environment for talks on rate increases.
