AUD/USD slides towards 0.6900 on surprise fall in Australia’s Employment Change – by anilpanchal7 AUDUSD Employment China Recession Fed
d, the Aussie pair remains pressured around 0.6935, after refreshing the daily low to 0.6924, by the press time.
Australia’s headline Employment Change dropped to -40.9K versus 25K expected and 88.4K prior while Unemployment Rate eased to 3.4% versus 3.5% expected and prior. Also, the Participation Rate declined to 66.4% versus 66.8% market forecasts and previous readings.It’s worth noting that Aussie Wage Price Index for the second quarter exerted downside pressure on the AUD/USD prices the previous day. That said, the data flashed 0.
Earlier in the day, China Securities News mentioned, “China may issue 1.5 trillion yuan in additional debt as part of an investment push.” On the contrary, the latest comments from the US Trade Representative’s office stating, “Early this autumn, the US and Taiwan will begin formal negotiations on a trade initiative,” seem to renew the fears of the US-China tussle and weigh on the sentiment.
On the same line were the statements from a top US diplomat for East Asia Kritenbrink who said, “The US is committed to maintaining peace and stability across the Taiwan strait.”
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