Australian Job Data Causes Currency To Gain – 18 July, 2018

Australia’s employment jumped three times higher than economists estimated during the month of June, causing the country’s currency to gain as the data reflects the Reserve Bank’s view that strong economic growth spur’s hiring. The currency climbed 0.4 percent to 74.31 U.S. cents. The added 50,900 positions paves the way for a possible interest rate discussion for a the first hike in eight years.