The headline figures from Australia’s job report certainly beat expectations: a gain of 42K jobs instead of around 12K expected, and a drop of the unemployment rate to 6%, better than 6.2% predicted. The month of May seemed positive for Australia’s labor market.
AUD/USD initially jumped and reached a high of 0.7790, but not only failed to advance but actually fell back to the previous range. What’s wrong with the report?
Read the rest of the article Australia enjoys 42K jobs gained – but AUD/USD hesitates on doubts