Jump in jobs growth brings Aussie higher, yen earns on greenback
On Thursday, the Australian dollar gained smartly on better than expected jobs data, while the Japanese yen help solid gains on a weaker greenback and as trade data showed a wider than expected surplus, although imports sagged more than expected, thus highlighting fragile demand.
The currency pair USD/JPY traded at 99.80, showing a 0.40% slump against the greenback because market participants digested the latest FOMC minutes. Simultaneously, AUD/USD was worth 0.7711, rising 0.72%.
Australia, employment change figures for July demonstrated a leap of 26,200, quite above the expected revenue of 11,000 jobs, helping the unemployment rate to sink to 5.7% from an intact 5.8% observed with the participation rate of 64.9% as expected. Meanwhile, in China, July’s house prices soared 7.9%, better than last month up 7.3% year-on-year.
A bit earlier in Japan, the adjusted trade balance surplus for July accounted for ¥320 billion, which is wider than the ¥140 billion observed as imports dipped 24.7%, more than the expected 20.6% year-on-year sag for the 19th drop in-a-row.