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The Australian Dollar is trading higher on the back of a disappointing U.S. Non-Farm Payrolls report. The last price at 0840 GMT had the AUD/USD trading at .9597, up 0.0029 or +0.38%.
The jobs report released on Friday showed lower than expected job gains in August as well as weak hourly earnings growth. The Unemployment rate remained the same, but came in higher than the estimate.
The news triggered a volatile reaction from AUD/USD traders. Initially, the Forex pair rallied as investors priced in the possibility the Fed would not raise rates in 2016. However, sellers came in later as investors decided that a September or December rate hike was not off the table.
The major risk event for the Aussie on Monday was the release of the official Australia business indicator figures for the June quarter and the performance of services index
The jobs report released on Friday showed lower than expected job gains in August as well as weak hourly earnings growth. The Unemployment rate remained the same, but came in higher than the estimate.
The news triggered a volatile reaction from AUD/USD traders. Initially, the Forex pair rallied as investors priced in the possibility the Fed would not raise rates in 2016. However, sellers came in later as investors decided that a September or December rate hike was not off the table.
The major risk event for the Aussie on Monday was the release of the official Australia business indicator figures for the June quarter and the performance of services index
