The Australian dollar declines due to deteriorating labor market data

The Australian dollar fell in the Asian market on Thursday against a basket of global currencies, moving away from its highest levels in 11 weeks against its American counterpart, due to accelerating sales operations after the release of data that showed severe and unexpected weakness in the Australian labor market.

• The Australian dollar ended Wednesday’s trading up 0.55% against the US dollar, marking the third gain in the last four days, benefiting from currency selling.

After the Treasury Department announced intervention in the American debt market.

Australian labor market Figures issued by the Australian Bureau of Statistics on Thursday showed a decline in net employment in the loss area by 15.8 thousand jobs in July, worse than market expectations, an addition of about 11.7 thousand. In June, jobs recorded an addition of about 80.2 thousand after adjusting upward from an addition of about 76.3 thousand.

Expectations about the performance of the Australian dollar. We expect here on the “AF” website

X News Today: The Australian dollar continues to move in the negative territory against its American counterpart, due to the decline in the possibility of raising Australian interest rates again this year.

The Australian economy released on Thursday morning the number of new jobs in the country, showing that 15.8 thousand jobs were lost in July, worse than market expectations, adding 11.7 thousand jobs, and the previous reading was revised upward from adding 76.3 thousand jobs to adding 80.2 thousand jobs in

June.

Major US stock indexes closed modestly higher on Wednesday, with falling government bond yields supporting investors' risk appetite, while a big jump in shares of vaccine maker Moderna led gains in the healthcare sector.