{"id":47028,"date":"2019-10-17T09:58:59","date_gmt":"2019-10-17T13:58:59","guid":{"rendered":"https:\/\/currencylive.com\/?p=47028"},"modified":"2019-10-17T11:09:05","modified_gmt":"2019-10-17T15:09:05","slug":"101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\/","title":{"rendered":"AUD\/USD: Aussie Dollar Surges 1% As Unemployment Drops to 5.2%"},"content":{"rendered":"

A strong jobs report and weak US manufacturing figures sent the Australian dollar US dollar exchange rate 1% higher on Thursday. The pair rallied through $0.68 to a monthly high of $0.6834.<\/p>\n

A decline in unemployment in the Australian Bureau of Statistics labour market report lifted the Australian dollar on Thursday. The report showed that the nations unemployment rate unexpectedly slipped to 5.2% in September, down from 5.3% the previous month. \u00a0Job creation was lower than what analysts had been expecting at 14,700. However, the number of full-time jobs created beat expectations and made up from the losses in the previous month.<\/p>\n

The labour market report sent the Aussie dollar firmly higher. This is because the Reserve Bank of Australia watch employment figures closely for directing monetary policy. \u00a0A strong report means that the RBA could be less inclined to cut interest rates again, from their current record lows. Australian dollar investors currently place the odds of another rate cut by the end of the year at 70%.<\/p>\n

 <\/p>\n\n\n\n\n
How does strong jobs data boost the currency?<\/strong><\/td>\n<\/tr>\n
It works like this, when there is low unemployment and high job creation, the demand for workers increases. As demand for workers goes up, wages for those workers also go up. Which means the workers are now taking home more money to spend on cars, houses or in the shops. As a result, demand for goods and services also increase, pushing the prices of the goods and services higher. That\u2019s also known as inflation. When inflation moves higher, central banks are more likely to raise interest rates, which then pushes the worth of the currency higher.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

There is no more high impacting Australian data due to be released this week. This means that the Australian dollar react primarily to any trade headlines. Otherwise, it will move at the will of the US dollar.<\/p>\n

Dollar Drops On Weak Manufacturing Figures<\/strong><\/h3>\n

The US dollar extended losses on Thursday as investors grew increasingly concerned over the health of the US economy. After terrible US retail sales data yesterday, industrial production figures today were just as dreary. US industrial production contracted by -0.4% month on month in September, the biggest drop since April.<\/p>\n

Manufacturing production fell -0.5% in September, compared to the previous month. The strike at General Motors, which started mid-September will have reduced output and clouds the data to a degree. That said, it is still clear that the ongoing US \u2014 China trade dispute is negatively impacting US factory activity.<\/p>\n

There is no further high impacting US data this week. Instead investors will look to Chinese GDP data to assess the impact on the ongoing trade war on the world\u2019s second largest economy. Analysts are forecasting that GDP will have ticked lower to 6.2%. A weak reading could hit risk sentiment sending investors in search of the safe haven dollar.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n

For example, it could be written:<\/p>\n

1 USD = 0.6784 AUD<\/em><\/p>\n

Here, $1 is equivalent to approximately A$0.67. This specifically measures the US dollar\u2019s worth against the Australian dollar. If the Aussie dollar amount increases in this pairing, it\u2019s positive for the US dollar.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 AUD = 1.4739 USD<\/em><\/p>\n

In this example, A$1 is equivalent to approximately $1.47. This measures the Australian dollar\u2019s worth versus the US Dollar. If the US dollar number gets larger, it\u2019s good news for the Aussie dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (“we” or “us”) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A strong jobs report and weak US manufacturing figures sent the Australian dollar US dollar exchange rate 1% higher on Thursday. The pair rallied through $0.68 to a monthly high of $0.6834. A decline in unemployment in the Australian Bureau of Statistics labour market report lifted the Australian dollar on Thursday. The report showed that […]<\/p>\n","protected":false},"author":163946597,"featured_media":5314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1578,1541,1408,1658,1433,1542,1430,1508,1482,1398],"class_list":{"0":"post-47028","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-aussie-dollar","11":"tag-australian-dollar","12":"tag-fed","13":"tag-industriall-production","14":"tag-rate-cut","15":"tag-rba","16":"tag-retail-sales","17":"tag-unemployment","18":"tag-us-dolar","19":"tag-usd"},"acf":[],"yoast_head":"\nAUD\/USD: Aussie Dollar Surges 1% As Unemployment Drops to 5.2% - 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\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\/\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"AUD\\\/USD: Aussie Dollar Surges 1% As Unemployment Drops to 5.2%\",\"datePublished\":\"2019-10-17T13:58:59+00:00\",\"dateModified\":\"2019-10-17T15:09:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/\"},\"wordCount\":740,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100875-gbp-usd-pound-extending-gains.jpg\",\"keywords\":[\"aud\",\"Aussie dollar\",\"australian dollar\",\"fed\",\"industriall production\",\"rate cut\",\"rba\",\"retail sales\",\"unemployment\",\"us dolar\",\"usd\"],\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101262-aud-usd-aussie-dollar-surges-1-as-unemployment-drops-to-5-2\\\/\",\"name\":\"AUD\\\/USD: Aussie Dollar Surges 1% As Unemployment Drops to 5.2% - 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