AUD Falls as a consequence of US Non-Farm Payrolls Data

Submitted by Craig Strzelecki on 6 February, 2006 - 10:39

Aussie Dollar US Non-Farm Payrolls Data

The Aussie was slightly lower as a result of the US Dollar rallying from the release of positive non-farm payrolls data. At 7am this morning the Aussie was trading at US74.88¢ which is down from Friday's close of US75.32¢. Over the weekend it reached a low of US74.77¢ and a high of US75.34¢. Another figure that helped the US dollar along was the falling unemployment rate - which fell to a four and a half year low of 4.7 per cent and a revised 193,000 jobs were added to non-farm payrolls. This result lends itself to last weeks expectations for further US interest rate hikes in the future. The aussie dollar is well supported with commodity prices and the recent release of retail trade and trade deficit numbers on Friday.

Financial Figures Outlook for the coming week: Today, ANZ job ads and the TD Securities/Melbourne Institute experimental inflation gauge figures for January are due out for release while the Housing Industry Association releases its December quarter state and national outlook. The Australian Bureau of Statistics releases labour force figures on Thursday and housing finance on Friday.

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