The Australian dollar surged after release of a domestic employment report even though the data was mixed. By now, though, the currency has lost its gains, trading below the opening level against its most-traded rivals.
The Australian Bureau of Statistics reported that the number of employed persons in Australia rose by just 4,600 in February from the previous month, seasonally adjusted, after increasing as much as 38,300 in January. Analysts had predicted a substantially bigger increase by 14,800. At the same time, the unemployment rate fell from 5.0% to 4.9%, while no change was expected.
AUD/USD declined from 0.7126 to 0.7097 as of 16:45 GMT today after rallying to the daily high of 0.7167 earlier. EUR/AUD was at 1.5995 after opening at 1.6028 and falling to the session low of 1.5948.
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Australian Dollar Surges After Employment Report, Loses Gains Later
