Australian Dollar Unable to Capitalize on Upbeat Jobs Data
- December's Australian Jobs Report Tops Economists' Forecasts
- Australian Dollar Spikes Upward, Fails to See Lasting Momentum
- Inability to Rise on Supportive News Speaks to Aussie Weakness
The Australian Dollar launched briefly higher after December's jobs data topped expectations. The announcement extended a recent string of improvements in economic news-flow relative to consensus forecasts.
The currency was unable to sustain upward momentum however, swiftly unwinding post-data gains. The Aussie's inability to engineer a meaningful advance despite supportive news-flow hints at significant underlying weakness.
--- Created by Ilya Spivak, Currency Strategist for DailyFX.com
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