Australian dollar holds jobs data gains on China’s upbeat GDP

Australian dollar holds jobs data gains on China’s upbeat GDP

On Thursday, in Asia, the Australian dollar held revenues after jobs data. Additionally, major Chinese data on GDP as well as industrial output underpinned market sentiment of continued firm demand from a leading export destination.

The currency pair AUD/USD hit 0.7851, ascending 0.06%, USD/JPY reached 113.00, gaining 0.05%, while EUR/USD showed an outcome of 1.1802, tacking on 0.13%.

As for the US dollar index, tracking the US currency’s strength against six key currencies, it slumped 0.05% hitting 93.25.

China’s third quarter GDP pleasantly surprised traders with a 1.7% leap on quarter as well as 6.8% surge on year.

As for Japan’s trade balance, it demonstrated a surplus of about ¥670 billion, which is wider than September’s ¥560 billion surplus.  

Besides this, Australia posted jobs data with 19,800 employees added versus 15,000 under employment change anticipated. It enabled the unemployment rate to sink to 5.6% to 5.5%.

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S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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