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AUD/USD plummets on US nonfarm payrolls

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - AUD/USD crumbled to fresh 1-month lows after data showed the US economy added more jobs than expected in October.

    Nonfarm payrolls report showed US economy added 271,000 new jobs in October versus 180,000 expected, while the unemployment rate dropped to 5.0% versus 5.1% expected.

    US dollar rallied across the board underpinned by solid employment numbers which keep December rate hike by the Fed on the table.

    AUD/USD dropped more than 80 pips and scored a low of 0.7063 before finding support. At time of writing, the pair is trading at 0.7070, recording a 1.06% loss on the day.
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