Volatility ahead for Australian dollar

Financial and commodity markets analytics

The Australian dollar held its ground on Friday, brushing off better than expected employment out of the US.

At close of trade on Friday the Aussie dollar finished at US76.80c up 0.29 percent from the previous day.

The latest non-farm payrolls report from the US showed there were 215,000 jobs added to the economy last month, well above predictions for a figure 205,000.

Another good performer was wage growth which climbed 0.2% in March and came in at 2.3 percent on a yearly basis.

The U.S. Federal Reserve keeps a close eye on wage growth as it’s closely connected to inflation which in turn influences interest rate decisions.

The Unemployment rate unexpectedly climbed to 5 percent, slightly up from 4.9 percent in February, with the market choosing to overlook this and instead focus on the positive news.

In the week ahead the Australian dollar will come up against some big news including the latest interest rate decision from the Reserve Bank of Australia as well as the Latest minutes meeting from the US Fed which is sure to create some volatility.


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