AUD/USD declines 0.22% on Thursday and trades around 0.7110 at the time of writing. The Australian Dollar (AUD) remains under pressure after data showed an unexpected deterioration in Australia’s labor market in July, although persistent weakness in the US Dollar (USD) is helping to limit the pair’s losses.
The Australian Bureau of Statistics (ABS) reported that the Australian economy lost 15.8K jobs in July, while markets had expected an increase of 15K. Australia’s Unemployment Rate rose to 4.5% in July, from 4.4% in June and above market expectations for an unchanged reading of 4.4%.
The weaker-than-expected figures ease expectations that…
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