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AUD/USD Gains on Blowout Jobs Report, Eyeing Rising Stocks
The Australian Dollar gained following a blowout jobs report for February. Australia added 88.7k positions against expectations of a 30k increase. The bulk of these were derived from the full-time sector (89.1k) as part-time shrunk 0.5k. Australia’s unemployment rate also edged down to 5.8% from 6.3% prior, marking the lowest point in almost one year. Economists were anticipating a hold at 6.3%. Participation held at 66.1%. It should be noted that Australia’s JobKeeper wage subsidy program is set to expire at the end of the month. But, RBA Governor Philip Lowe seems to be expecting a pause in labor market ... (full story)