Australian Employment Growth Beats Forecast by More Than Twice

The Australian dollar rallied today after extremely positive domestic employment data that showed growth of jobs market that was far bigger than was forecast.

The Australian Bureau of Statistics reported that Australian employers added 54,200 jobs in August (adjusted for seasonal variations), more than double expectations of 17,500. What is especially important, the bulk of the increase consisted of full-time jobs. The unemployment rate remained stable at 5.6%.

AUD/USD gained from 0.7984 to 0.8003 as of 8:15 GMT today. AUD/CHF rallied from 0.7695 to 0.7722.

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