The Australian dollar came under selling pressure due to the negative surprise on the part of the publication of a report on employment for April. The unemployment rate in the reporting month, remained unchanged and amounted to 4.9%. However, data on the number of jobs frankly disappointing. Economists on average had expected that Australia's economy in April, added 17,000 new jobs. Actual figures are surprisingly reflected their reduction by 22,100 jobs. In this case, the March figure was revised upward from 37,800 to 43,300 jobs. "High oil prices, expensive national currency and fiscal problems began to exert its negative effect on the public production ", - said Robert Rennie, chief currency strategist and analyst at Westpac in Sydney. Yield of 2-year Australian government bonds fell 10 basis points to 4.96%.
Thursday, May 12, 2011
NZD fell sharply after jobs report
The Australian dollar came under selling pressure due to the negative surprise on the part of the publication of a report on employment for April. The unemployment rate in the reporting month, remained unchanged and amounted to 4.9%. However, data on the number of jobs frankly disappointing. Economists on average had expected that Australia's economy in April, added 17,000 new jobs. Actual figures are surprisingly reflected their reduction by 22,100 jobs. In this case, the March figure was revised upward from 37,800 to 43,300 jobs. "High oil prices, expensive national currency and fiscal problems began to exert its negative effect on the public production ", - said Robert Rennie, chief currency strategist and analyst at Westpac in Sydney. Yield of 2-year Australian government bonds fell 10 basis points to 4.96%.
