Aussie Closed higher Because Jobless Rate Drop
Boosted by better than expected data release about the unemployment rate in Australia, the Aussie market closed higher. The Australian Bureau of Statistic announced a 15.5 thousand rise of employed people in Australia, the unemployment rate surprisingly dropped to 4.9% for the month of April, March it rose to 5.3% from 5.2% for February. Despite the better jobless rate, there are still expectations of another cut to interest rate. This makes investors to think if Aussie will continue to fall. In my opinion it will stop the uptrend for some currency paired with Aussie particularly the Euro I bet my money on it!