The Australian Dollar has had a great 24 hours of trading following much better than expected unemployment levels released yesterday.
Expectations had been for the unemployment level to have gone up from 5.8% to 5.9% but surprisingly and against predictions the Australian unemployment level came down to 5.7%.
Unemployment is one of the key barometers for economic performance and the markets also generally price in expectations before an event. The fact that the release was a great deal better than expected gave AUD rates a big boost against all major currencies and created a great selling opportunity.
Tonight we have a flurry of data out from China so this will probably set the scene for how the AUD rounds off the week.
If you have the need to buy or indeed sell Australian Dollars for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.
If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on [email protected] and I will be more than happy to get in touch with you personally.