CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

Aussie Gains Despite Mixed Jobs Data As Unemployment Rate Dips

11/16/2017, 10:59:38 AMMarket Analysis
Aussie Gains Despite Mixed Jobs Data As Unemployment Rate Dips

The Aussie gained despite mixed jobs data on Thursday as investors focused on a drop in the overall unemployment rate over jobs created.

AUD/USD wrose 0.13% to 0.7599, while USD/JPY was cited at 112.88, flat and GBP/USDat 1.3174, up 0.02%.

Australia reported employment change data for October at 3,700 jobs, compared with with 17,500 jobs seen an an unemployment rate that dipped to 5.4% from 5.5% under aparticipation rate of 65.1%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.03% to 93.75.

Overnight, the dollar turned positive against a basket of currencies after a duo of reports on inflation and retail sales topped forecasts, reinforcing investor expectations for a December interest rate hike.

The Labor Department said on Wednesday its Consumer Price Index rose 0.1% last month after jumping 0.5% in September.

Retail sales increased 0.2% last month, the Commerce Department said Wednesday, after heavy discounting by automobile manufacturing lifted purchases of motor vehicles in areas affected by the hurricanes.

The duo of reports helped cement investor expectations for a December rate hike, spurring a rebound in the dollar after it slumped to two-week lows in early morning trade.

A December rate hike appeared to fully priced into markets as 100% of traders expected the Federal Reserve to raise rates in December, according to’s fed rate monitor tool.

The rebound in the dollar weighed on euro as the single struggled to add to Tuesday’s gains which followed a bullish third quarter German GDP Data.

GBP/USD rose as strong UK labor market data helped offset negative sentiment on sterling amid investor uncertainty concerning Brexit and Prime Theresa Minister May’s leadership position.