by Thu, 13 Jan 2011 01:37:00 +0100
Forex: Aussie retreats; jobs data disappoints
FXstreet.com (Barcelona) - The enthusiasm to keep up the bid tone in the Australian Dollar diminished, as the Australian economy showed a weaker picture in the jobs sector.
Despite the jobless rate fell to 5% vs 5.2%, the number of jobs created fell way short of expectations, with only 2.3K added vs 25K anticipated.
AUD/USD fell as low as 0.9917 from its intra-day high at 0.9970, and at the moment of writing AUD continues with a soft tone around 0.9930, 0.40% below previous NY close.
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