Australian dollar is surging.
The currency is up by 0.5% at .7696 per dollar as of 7:24 a.m. ET.
Earlier, Australia’s latest jobs report showed that the economy added 26,000 jobs in July, above the expected 10,000. Moreover, the unemployment rate fell to 5.7%.
However, although the surface number for jobs added looks good, it’s worth noting that full-time employment fell by 45,400, while part-time employment rose by 71,600.
As for the rest of the world, here’s the scoreboard as of 7:24 a.m. ET:
- The British pound is up 0.9% at 1.3154 against the dollar after UK retail sales climbed 1.4% month-over-month in July, coming in above the 0.2% gain that economists had forecast.
- The euro is higher by 0.4% at 1.1333 against the dollar after data from Eurostat showed that inflation in the euro area rose 0.2% in July, up from 0.1% in June. Belgium (+2.0%) saw the hottest reading, while Slovakia (-0.9%) saw the coolest.
- The Japanese yen is little changed at 100.28 per dollar after data showed that exports crashed 14% year-over-year, their sharpest drop since 2009 amid the stronger yen. But, Japan’s trade surplus expanded to 513 billion yen ($5.1 billion) as imports tumbled almost 25%.
- The US dollar index is down by 0.4% at 94.38. On Wednesday, the minutes from the July FOMC meeting suggested the Fed still isn’t sure about when to hike rates next. Separately, Thursday data will see initial jobless claims and the Philly Fed released at 8:30 a.m. ET.
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