Australian Dollar holds losses following employment data release
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The Australian Dollar stagnated as Employment Change came in at 32.2K, against the consensus forecast of 40K. Australia’s Unemployment Rate rose to 4.1% in March, slightly below the market forecast of 4.2%. The US Dollar received support due to stronger consumer spending in March. The Australian Dollar (AUD) is trading lower against the US Dollar (USD), snapping a six-day winning streak. The AUD/USD pair remains under pressure following the release of Australia’s employment data on Thursday, which showed the Unemployment Rate rising to 4.1% in March, slightly below the market forecast of 4.2%. Meanwhile, Employment Change came in at 32.2K, against the consensus forecast of 40K. The AUD found some support from improved global risk sentiment after US President Donald Trump announced exemptions for key technology products from newly proposed “reciprocal” tariffs. These exemptions, which include smartphones, computers, semiconductors, solar cells, and flat-panel displays, largely benefit goods produced in China, Australia’s largest trading partner and a major buyer of its commodities. Markets remain cautious amid ongoing uncertainty surrounding US trade policy. The Trump administration is now considering tariffs on imports of semiconductors and pharmaceuticals. On the domestic front, the Reserve Bank of Australia’s (RBA) April policy Meeting Minutes suggested uncertainty about the timing of the next interest rate adjustment. While the RBA hinted that the May meeting could be an appropriate time to reassess monetary policy, no firm decision has been made. Markets are currently pricing in a 25-basis point rate cut in May, with expectations of around 120 basis points of easing over the next year. Attention now turns to Thursday’s employment report, which could offer crucial labor market insights and guide the RBA’s next policy move. Australian Dollar depreciates as US Dollar rebounds due to stronger consumer spending The US Dollar Index (DXY), which tracks the USD against…
Filed under: News - @ April 17, 2025 2:17 am