Aussie stronger on solid jobs data

Aussie stronger on solid jobs data

15 January 2015, 08:13
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The Australian dollar advanced on solid jobs data released Thursday that saw a surge in new employment and a downtick in the overall employment rate. Statistics Australia reported that 37,400 jobs were created in December, compared to 3,800 expected, while unemployment eased to 6.1%, compared to expectations of a 6.3% gain.

AUD/USD traded at 0.8194, up 0.55%, after the data, while USD/JPY changed hands at 117.67, up 0.28%, as core machinery orders rose 1.3%, compared to a 5.0% increase expected in November and CGPI gained 1.9%, compared to a 2.1% rise seen.

The U.S. dollar index climbed 0.09% to 92.38.

Today the Bank of Japan holds a branch managers' meeting with BOJ Haruhiko Kuroda due to speak. At the previous meeting in October, one of the nine domestic regions revised down its economic assessment from three months earlier while the eight others left their views unchanged.

The BoJ's regional economic report is due at 1430 (0530 GMT).

At 1600 (0700 GMT), BOJ Osaka branch manager Atsushi Miyanoya is due to hold a news conference to discuss the economic climate in the western commercial hub and its surrounding areas.

Despite the release of downbeat U.S. retail sales data as the ongoing drop in oil prices continued to support safe-haven demand, the dollar remained broadly supported close to 12 year highs against the other major currencies on Wednesday, as Investing.com reports.

The U.S. Commerce Department said in a report that retail sales declined by 0.9% last month, worse than expectations for a drop of 0.1%. Retail sales growth for November was revised down to a 0.4% gain from a previously reported increase of 0.7%.

Core retail sales, which exclude automobile sales, dropped by 1.0% in December, breaking forecasts for a 0.1% increase. Core sales in November rose by 0.1%, downwardly revised from a previously reported increase of 0.5%.

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