The AUD/USD pair declined with the beginning of Thursday’s trading session after the Australian economy released pessimistic fundamentals regarding the employment sector.
The unemployment rate in Australia during November increased to 5.3% from 5.2%, where the economy cut 6.3 thousand jobs for the first time in three months.
On the other hand, Asian stocks dropped early Thursday after the RBNZ and BOK kept interest rates steady due to fears of the EU debt crisis negative impact on the global economic stability.
As for the greenback, it gained momentum against other major currencies as a safe haven, after investors abandoned higher-yielding currencies opening the way for the AUD/USD pair to decline.
On Friday, the U.S. economy will release the Trade Balance for October, where it’s expected to show a deficit of $44.0 billion widening from the previous deficit of $43.1 billion.
The University of Michigan Confidence for December will be released at 14:55 GMT and expected to slow to 63.0 from 64.1.
Originally posted here
