12.02.2015 - Rising unemployment has led to a fall in of the Australian dollar
The price of the Australian dollar has shown a strong decline after the release of statistics on the labor market in the country. Thus, the unemployment rate rose by 0.3% in January to 6.4%. Analysts had expected the growth rate to the level of 6.2%. At the same time, the number of employed people decreased by 12.2 thousand. It is worth noting that investors expect future statements of the Reserve Bank of Australia, which may lead to increased downward price movement. Earlier, the RBA lowered the interest rate by 0.25% to 2.25%. The Australian dollar continues to be under the pressure of low commodity prices, the reduction in imports in China, the deterioration on the labor market and the fall in investment in the mining sector. We recommend holding short positions with the target at 0.7500.