The Aussie is falling without pauses. Overview for 13.06.2019

AUDUSD updated its two weeks lows and may continue falling.

On Thursday morning, the Australian Dollar continues cheapening against the USD. The current quote for the instrument is 0.6907.

Interesting fact is that the Australian currency is trading downwards even when US-Chinese trade talks are finally reaching stability. In addition to that, the macroeconomic numbers from Australia are looking pretty good and that’s another factor, which may prevent the Aussie from falling and help it start consolidating. Still, AUDUSD is falling, mostly because of the strong USD. 

In the morning, Australia reported on the labor market in May. The Unemployment Rate remained at 5.2% although it was expected to decrease a bit and reach 5.1%. The Employment Change showed 42.3K against the expected reading of 16K. 

The fact that the Australian economy continues increasing the number of jobs, even adjusted for seasonal variations, is very positive for the Aussie, because it means that trade wars between the USA and China might not be so scary. Everything that is connected with China is very important for China, because it remains Australia’s key trade and economic partner.