Aussie kept falling despite good employment data

On Thursday Australian dollar continued to carve its way down against the US dollar despite the decent employment data from Australia.

AUD/USD pair fell to a session low at 0.9428 during Asian trade, after which consolidation followed at 0.9461. The cross was down by 0.25% for the day. Support was expected at Tuesdays low, 0.9326, lowest for the past 20 months, while resistance was to be encountered at June 7th high, 0.9574.

Earlier today the Australian Bureau of Statistics reported that employment indicator rose by 1 100 job positions during May, opposing the preliminary estimates that there will be 10 000 job posts less, while in April economy managed to add 45 000 jobs, according to revised data. Unemployment Rate in Australia ticked down to 5.5% in May, below the projected level of 5.6%. During the preceding period the rate was revised to 5.6%. Data implied that the 12th largest economy worldwide was resilient and supported by investments in resources so that Chinese demand of those to be satisfied. The Reserve Bank of Australia decreased its base interest rate by 2% in the past 20 months, as its last act was in May, when the interest rate was diminished by 0.25% to 2.75%. The banks goal was to revitalize industries, excluding the mining sector, as investments in mining were expected to peak this year.

Additionally, Consumer Inflationary Expectation indicator in Australia remained stable at 2.3% in June, as this was the same level during the preceding month.

Those data results came one day after the Westpac Banking Corporation announced that consumer sentiment rose by 4.7% in June, after the 7% drop during the previous month.

Meanwhile, market players began focusing on the crucial series of economic data from the United States, scheduled to be released later today.

Australian dollar was higher against its New Zealand peer, with AUD/NZD up by 0.53% to 1.1935, following Reserve Bank of New Zealands decision to leave interest rates without change.