{"id":103068,"date":"2020-08-10T15:16:14","date_gmt":"2020-08-10T14:16:14","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=103068"},"modified":"2020-08-12T12:10:44","modified_gmt":"2020-08-12T11:10:44","slug":"103822-aud-usd-aussie-dollar-pares-earlier-losses-as-market-mood-improves","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103822-aud-usd-aussie-dollar-pares-earlier-losses-as-market-mood-improves\/","title":{"rendered":"AUD\/USD: Aussie Dollar Pares Earlier Losses As Market Mood Improves"},"content":{"rendered":"<ul>\n<li><strong>Australian Dollar (AUD) picks up after a slow start as job advertisements slow<\/strong><\/li>\n<li><strong>Australian unemployment expected to reach 10% by the end of the year<\/strong><\/li>\n<li><strong>US Dollar (AUD\/USD) moves lower versus major peers after strong job opening data for June<\/strong><\/li>\n<li><strong>Attention turns to Washington to see if a stimulus deal can be reached<\/strong><\/li>\n<\/ul>\n<p>After a steep selloff on Friday the Australian Dollar US Dollar (AUD\/USD) exchange rate is pushing higher on Monday. The pair dived 1% on Friday to settle at US$0.7158. Despite the sharp drop, the pair still managed to eke out 0.2% gains across the week.<\/p>\n<p>At 14:15 UTC, AUD\/USD trades +0.25% at US$0.7177. This is at the top end of the daily traded range of US$0.7140 \u2013 US$0.71785.<\/p>\n<p>The Australia Dollar started the week on the back foot following weaker job advertisements in July. The ANZ job advertisements rebounded 16.7% in July, with total jobs ads climbing to 104,916. This was up from a low of 63,565 in May.\u00a0 However, this was down significantly from June\u2019s 42% increase. Ads are still down 34% compared to July last.<\/p>\n<p>The pace of gains slowed, especially in the second half of the month as a second wave of coronavirus infections resulted in lockdown measures being re-imposed in Melbourne. The renewed lockdown restrictions will have almost certainly impacted the recovery in the labour market. The ANZ vacancies release is a closely watched data point by the Reserve Bank of Australia.<\/p>\n<p>The latest figures revealed the unemployment rate for Australia to be 7.4%. \u00a0Economists expect unemployment to reach 10% in Australia by the end of the year.<\/p>\n<p>Looking ahead investors will focus on Australia\u2019s National Bank Business Confidence data for July. Investors will be keen to see whether the outbreak in Melbourne is denting business morale.<\/p>\n<p>The US Dollar started the week on a stronger note. However, slowly lost strength as the European session wore on and despite a strong JOLTS job opening reading.<\/p>\n<p>5.89 million new jobs openings were recorded in June. This data is slightly out of date given Friday\u2019s stronger than forecast non-farm payroll report. However, it still shows that the US economic recovery and the recovery in the labour market was on track in June.<\/p>\n<p>This was the only high impacting US data due for release today. Investors will now keep an eye on Washington to see whether any more progress will be made towards a new rescue package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian Dollar (AUD) picks up after a slow start as job advertisements slow Australian unemployment expected to reach 10% by the end of the year US Dollar (AUD\/USD) moves lower versus major peers after strong job opening data for June Attention turns to Washington to see if a stimulus deal can be reached After a [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5579,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[3085,1540,2415,1607,3084,1398],"class_list":{"0":"post-103068","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-anz-vacancies","10":"tag-aud","11":"tag-aud-usd","12":"tag-business-confidence","13":"tag-jolts-job-opening","14":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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