AUD/USD marked lower on the disappointing jobs data for April (unemployment rate higher)

While 25,000 jobs were expected to be added in April, 4,300 were lost! Job growth was strong in earlier months of this year.

The unemployment rate jumped to 3.7% from March's 3.5%. This is still historically low but an increase in joblessness is not welcome. The rapid expansion in immigration after it ground to a halt during the pandemic is adding to the labour force pool.

Data post is here:

• Australia Jobs -4.3K (vs. +25K expected) & Unemployment rate 3.7% (vs. 3.5% expected)

The data today gives the Reserve Bank of Australia scope to pause at its 6 June meeting.

The Australian dollar is lower:

aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term