Following setbacks earlier this week, the Australian dollar (AUD) now appears to have climbed back to regain much of its weekly losses. The release of employment data from the Australian Bureau of Statistics this morning signaled growth in the nation’s jobs sector, spurning a retracement by the Aussie.
Adding over 23,000 jobs in June, the employment sector of the Australian economy looks to be making strides. The data could not have been better timed as several analysts have begun to question the value of the AUD in times of high risk appetite. News affecting the country positively still correlates to strong upward movements in its currency, a clear sign of risk association. Any additional bullish indicators from Australia could help lift the currency further in the days ahead.
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