Australian Dollar Trading at 3-month High Ahead of Unemployment Figures

The Australian dollar closed at a 3-month high of 0.77117 against the U.S. dollar on Wednesday. Following the close of the New York trading session, the AUD/USD currency pair continued to climb into the beginning of the Aussie FX trading session, trading as high as 0.77217 at 6:45 p.m. EST.

The inflation expectation number released by the Melbourne Institute (how much consumers expect prices of goods and services to rise over the next 12 months), which came in at 4.1 percent, had little effect on the exchange rate of the AUD.

While the Aussie currency is currently stable at a 3-month high, volatility is expected to pick up over the next few hours as the Australian Bureau of Labour Statistics releases January’s unemployment rate and employment change figures.

Analysts estimate Australian unemployment rate for January to remain at 5.8 percent.

AUD banknotes photo by RicardoCorralT

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