Forex - Aussie kiwi move higher after Australian data Fed minutes

© Reuters. Aussie and kiwi rise vs. broadly weaker greenback

Investing.com - The Australian and New Zealand dollars moved higher against their U.S. counterpart on Thursday, after the release of strong Australian employment data and as dovish minutes from the Federal Reserve’s latest policy meeting weighed on the greenback.

edged up 0.15% to 0.7938, just of a more than one-week high of 0.7950 hit overnight.

Earlier Thursday, the Australian Bureau of Statistics said the number of employed people increased by last month, beating expectations for a 20,000 gain. The number of employed people rose by 20,000 in June, whose figure was revised from a previously estimated 14,000 increase.

The unemployment rate hit in July from 5.7% in June, in line with market expectations. June’s figure was upwardly revised from a previously estimated rate of 5.6%.

added 0.12% to trade at 0.7322, after hitting a one-week peak of 0.7335 overnight.

Meanwhile, sentiment on the greenback weakened after the minutes of the Fed’s July policy meeting showed that over the need to raise interest rates further this year, citing low inflation.

In July, policymakers voted to hold the target rate to a range of 1% to 1.25%.

The minutes were released after disappointing dampened recent optimism over the strength of the economy.

The greenback was also hit by fresh political tensions in Washington after , sparking concerns over the administration’s ability to implement his economic reforms.

The move came after several chief executives quit in protest over his remarks blaming weekend violence in Virginia not only on white nationalists but also on anti-racism activists who opposed them.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 93.31.

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex - Aussie, kiwi move higher after Australian data, Fed minutes : http://ift.tt/2uS5bWS

Let's block ads! (Why?)