Aussie tacks on after unexpected leap in May jobs

Aussie tacks on after unexpected leap in May jobs

On Thursday, the Australian dollar leapt in Asia after a shocking bounce in May jobs and after the Fed disclosed its forecasts for rates as well as trimming its balance sheet.

In May, Australia reported 42,000 new jobs, which is past the 10,000 new employees expected under a participation rate of 64.9.

The currency pair AUD/USD jumped 0.38%, trading at 0.7618, while USD/JPY hit 109.57, decreasing 0.02%.

Australia's employment figures have been always volatile, although for the last months the trend has demonstrated a definite improvement in the labor market, as some financial experts revealed.

In New Zealand, the first quarter GDP climbed up 0.5% on quarter, missing the 0.7% revenue observed and also at 2.5% on year, which is below the expected 2.7%.

The currency pair NZD/USD demonstrated 0.7248, sliding 0.29%.

Overnight, the greenback weakened, following a pair of economic reports, which undershot expectations and spurred worries over a slowdown in the American economy.



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