The Australian Dollar US Dollar (AUD/USD) exchange rate has pulled out of the red into positive territory following the release of upbeat US jobless claims data.
AUD/USD trades +0.15% at US$0.7178 slightly off the weekly high of US$0.7190.
US jobless claims fell to 963,000 last week. This marks the first week that they have been below 1 million and is also the lowest reading since the start of the coronavirus crisis, mid-March. The number of people actively seeking unemployment benefit also fell to 15.5 million.
The strong data lifted the Aussie Dollar which has been trading lower earlier in the session after Australian labour market data was less encouraging. Unemployment ticked higher to 7.5% whilst 1 million Australian’s are jobless.