Australia's monthly unemployment data released earlier today showed a surprise decline in the unemployment rate to 5.80% beating forecasts of remaining unchanged at 6.0%. The decline in the unemployment rate brings it back to the previous levels after unemployment surprisingly increased in January. The employment change was however minor with a net loss of 0.3k, against expectations of an increase of 11.6k. Last month's numbers were also revised to -7.4k from -7.9k. The Australian Dollar which already made steady gains against the Greenback posted a high of $0.76.
Dovish Fed Sends Dollar Lower, Gold Spikes
Daily Analysis - 17/03/2016