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Posted January 12th, 2015 by Charles Purdy

Will Australian jobs data undermine the Australian dollar?

 

  • The Australian dollar reversed its recent trend and gained against the majority of other currencies on Friday despite weaker-than-expected retail sales. The figure came out on Friday at 0.1% in comparison to last month’s figure of 0.4%. The other minor data from Australia was around the AI Group construction index, which fell 1 point to 44.4. 
  • This week we have important unemployment figures from the Australia – the labour market is forecast to create 3,800 jobs in comparison to last month’s figure of 42,700 jobs. Any improved figure could continue to be a positive sign for the Aussie dollar. 
  • The Swiss franc remains under pressure (particularly against the US dollar), remaining at its lowest point since May 2012. For the week ahead, Switzerland will release fresh retail sales data, out on Friday. This is likely to be the main event this week.

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