The Australian dollar initially got a boost from the September employment figures, which beat expectations with a monthly gain of 19,800 in seasonally adjusted terms. It was forecast at 15,000.
After trading in a narrow range below 0.7850 US cents ahead of the key data release, the currency quickly rose above 0.7870 before falling back slightly.
The AUD then dipped again following the release of China’s GDP figures for the September quarter, which showed annual growth of 6.8% as forecast.
A short time ago, it was trading back near where it started the day at 0.7852.
Here’s the 5-minute price action for today’s session:
This morning’s jobs figure was the seventh straight month of jobs growth, and left total employment at 12,290,200 — the highest level on record.
The unemployment rate fell to 5.5%, which is the lowest level since February 2013.
In addition to the GDP figures, China’s National Bureau of Statistics also released annual growth figures for retail sales, industrial output and urban fixed asset investment.
Retail sales and industrial output both beat forecasts while fixed asset investment just missed expectations.