Australia, Canada, and EU Attempt to Steal the Fed Monetary Policy
Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
Aussie and Kiwi ascend after Australian data
On Thursday, the Australian and New Zealand dollars inched up versus their American counterpart, following the issue of sturdy Australian employment data, while dovish minutes from the Fed’s latest policy meeting put pressure on the US currency.
The currency pair AUD/USD rallied 0.15% hitting 0.7938, of a more than one-week maximum of 0.7950 reached overnight.
The Australian Bureau of Statistics announced that the overall number of employed folks surged by 27,900 the previous month, confounding expectations for a 20,000 ascend. In June, the number of workers grew by 20,000, and this data was updated from a previously assessed 14,000 leap.
In July, the unemployment rate reached 5.6% tumbling from June’s reading of 5.7%. That’s basically line with market hopes. June’s figure was upwardly updated from a previously evaluated rate of 5.6%.
The currency pair NZD/USD tacked on 0.12% trading at 0.7322, having reached a one-week maximum of 0.7335 overnight.
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