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AUD/USD shrugs off Aus jobs data, gives up gains

FXStreet (Córdoba) - The Australian dollar has already given up its jobs data-induced gains and fell to fresh daily lows during the European session, as the biggest job gain since 1978 failed to change the negative sentiment toward the AUD.

AUD/USD spiked to a high of 0.9216 after data showed Australia added 121,000 jobs in July, 10 times greater than the consensus forecast, a figure that has raised doubts among analysts whether this could be a methodology mistake. It seems investors are also taking the numbers with a grain of salt as the Aussie gives up intraday gains and more.

AUD/USD resumed the downside and has fallen to a low of 0.9122 so far, finding support a few pips above yesterday’s 5-month low of 0.9112. At time of writing, the pair is trading at 0.9140, recording a 0.14% loss on the day.

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