USD/CAD barely reacted to better than expected job data – TDS
Fundamental Forex Analysis

Recovery in payroll jobs continued through May – ABS

According to the latest employment data published by the Australian Bureau Of Statistics (ABS) on Tuesday, the country’s payrolls rose 0.4% between the week ending May 23 and May 30.

Additional details

Total wages paid increased by 0.7%.

Total payroll jobs increased by 1.0% through May.

Jobs losses at 7.5% by end of May from peak loss of 8.9% in mid-April.

Head of Labour Statistics at the ABS, Bjorn Jarvis, said: “Looking at the week-to-week changes, there was a 0.4 percent increase in the number of payroll jobs in the week ending 30 May, following no change recorded in the week ending 23 May (0.0%).”

Market reaction

The aussie dollar is little affected by the RBA minutes, Australian House Price Index and Payrolls data. At the press time, AUD/USD adds 0.33% to trade around 0.6940 levels.

 

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