The Australian Dollar (AUD) remains stable on Thursday following three consecutive days of gains against the US Dollar (USD). The AUD/USD pair saw modest support as the AUD posted slight gains in response to the Australian Employment report.
According to the Australian Bureau of Statistics (ABS), employment increased by 56.3K in December, up from 28.2K in November (revised from 35.6K) and significantly exceeding the market forecast of 15.0K. Meanwhile, the Unemployment Rate rose to 4.0% in December, compared to 3.9% in November, aligning with market expectations.
Bjorn Jarvis, head of labor statistics at the ABS, highlighted key data points: "The employment-to-population ratio rose 0.1% percentage points to a new record of 64.5%. This was 0.5 percentage points higher than a year ago and 2.3 percentage points above pre-COVID-19 levels. The increase in both employment and unemployment led to a further rise in the participation rate, which reflects the proportion of the population either employed or actively seeking work."
US President-elect Donald Trump's economic team considered a gradual increase in import tariffs. This optimism has bolstered risk-on market sentiment and supported risk-sensitive currencies like the AUD and contributed to the appreciation of the AUD/JPY pair.(cay) Newsmaker23
Source: fxstreet
