Bears continue dominating the Aussie. Overview for 16.04.2020
AUDUSD has been falling for the second trading session in a row; the Australian labor market remains balanced.
On Thursday afternoon, the Australian Dollar continues retreating against the USD. The current quote for the instrument is 0.6302.
The statistics published in the morning showed some decline in the Australian labor market. The Unemployment Rate in the country went from 5.1% in February to 5.2% in March. It’s not good, but still better than the expected reading of 5.4%.
In March, the Australian economy created 5.9K new jobs. In the previous month, the Employment Change was 25.6K, while the expected reading was -33K. However, the country’s labor market is looking quite stable – the government reformed the sector several years ago and made it extremely diversified.
Of course, the labor market will face more obstacles due to the coronavirus pandemic. It may happen if the service industry continues experiencing limited consumer activity. However, those who lost their job have no problems with finding a new one so far.
Today, the Aussie is pressured by negative changes in investors’ attitudes towards risks.