{"id":100113,"date":"2020-05-14T09:44:36","date_gmt":"2020-05-14T13:44:36","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100113"},"modified":"2020-05-14T11:14:15","modified_gmt":"2020-05-14T15:14:15","slug":"103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\/","title":{"rendered":"AUD\/USD: Aussie Sinks As Covid-19 Hits Australian & US Labour Markets"},"content":{"rendered":"

The selloff in the Australian Dollar<\/a> has gathered pace after the release of worse than expected US initial jobless claims data and following dismal Australian labour market numbers earlier in the session.<\/p>\n

At 13:45 UTC, AUD\/USD<\/a> is trading -0.6% at US$0.6413. This is at the lower end of the daily traded range of US$0.6404 \u2013 US$0.6462.<\/p>\n

The Australian Dollar has been trending lower versus its US counterpart for 4 straight sessions, putting the pair on track for its first weekly loss in 6 weeks.<\/p>\n

Check real time AUD to USD exchange rate<\/span><\/a><\/div>\n

AUD: Australian Unemployment at 5 Year High<\/h2>\n

Data out overnight set the Aussie off on the back foot. Australian labour market data showed that 594,300 Australian jobs were lost in April. This was worse than the 575,000 than analyst had forecast. The unemployment rate also ticked higher from 5.2% to 6.2%, the highest level since 2015.<\/p>\n

According to the Australian Bureau of Statistics the indicators from the labour report indicate that one in five persons employed in March either left employment or had their hours reduced between March and April as the country heads into recession. The figures paint a grim picture for the near-term outlook of the Australian economy, pressuring the Australian Dollar.<\/p>\n

There is not high impacting Australian data due for the rest of this week. Australian Dollar investors will look towards Chinese industrial production figures for clues over the strength of the rebound in China, Australia\u2019s largest trading partner.<\/p>\n

USD: 2.98 Million Initial Jobless Claims vs 2.5 Million Expected<\/h2>\n

The coronavirus pandemic continued to ravage the US labour market in May. The US Labour Department\u2019s initial jobless claims report revealed that an additional 2.98 million Americans signed up for unemployment benefits in the week ending 9th<\/sup> May. This was well above expectations of 2.5 million. Over the past two months more than 36 million Americans have filed unemployment insurance claims. The downbeat report boosted demand for the safe haven US Dollar.<\/p>\n

Today\u2019s initial jobless claims come following last week\u2019s non-farm payroll report which showed that 20.5 million jobs were lost across the month of April. The worst reading on record, taking the unemployment rate to 14.7%.<\/p>\n

The figures being released are unprecedented. However, as many states and businesses start to reopen hiring should resume and the economy should start to revive. This could be a prolonged process, as Federal Reserve Chairman Jerome Powell warned yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The selloff in the Australian Dollar has gathered pace after the release of worse than expected US initial jobless claims data and following dismal Australian labour market numbers earlier in the session. At 13:45 UTC, AUD\/USD is trading -0.6% at US$0.6413. This is at the lower end of the daily traded range of US$0.6404 \u2013 […]<\/p>\n","protected":false},"author":163946597,"featured_media":3609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1541,2555,1508,1397,1398],"class_list":{"0":"post-100113","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-australian-dollar","11":"tag-initial-jobless-claims","12":"tag-unemployment","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"\nAUD\/USD: Aussie Sinks As Covid-19 Hits Australian & US Labour Markets - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"AUD\\\/USD: Aussie Sinks As Covid-19 Hits Australian & US Labour Markets\",\"datePublished\":\"2020-05-14T13:44:36+00:00\",\"dateModified\":\"2020-05-14T15:14:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/\"},\"wordCount\":421,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100048-gbp-aud-tory-lead-poll-falls.jpg\",\"keywords\":[\"aud\",\"australian dollar\",\"initial jobless claims\",\"unemployment\",\"us dollar\",\"usd\"],\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103210-aud-usd-aussie-sinks-as-covid-19-hits-australian-us-labour-markets\\\/\",\"name\":\"AUD\\\/USD: Aussie Sinks As Covid-19 Hits Australian & US Labour Markets - 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