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The Australian Dollar plummeted to its two-month bottom. Overview for 17.06.2021

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AUDUSD fell in response to the strengthening of the “greenback”. 

The Australian Dollar plunged against the USD last night and is currently trying to recover. The current quote for the instrument is 0.7590.

The USD improved its positions pretty much after the June meeting of the US Federal Reserve, where the regulator announced its intentions to increase the benchmark interest rate twice before the end of 2023. It was a bit against what the Fed said earlier, that’s why market players’ response turned out to be so huge. 

The statistics from Australia published in the morning were positive and prevented the Aussie from a more serious decline. 

For example, the Unemployment Rate dropped to 5.1% in May, which is much better than the April reading of 5.5%. The Employment Change showed 115.2K in May after being -30.7K the month before and against the expected reading of 30.5K.

It appears that the current unemployment rate in Australia is the same it was before the pandemic started. It’s an excellent result.

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