AUD/USD Falls to Five-Month Low
AUD/USD dips to a five-month low over weaker than expected employment figures
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Last updated: Thursday, May 16, 2019
[[AUD/USD]] dips to a five-month low over weaker than expected employment figures, increasing the likelihood of RBA cutting interest rates. Investors have started pricing in a rate cut by the central bank in July, while the reigning trade war sentiments in the market too have contributed to weakening the Aussie.
The Australian unemployment rate touched 5.2%, the highest in eight months. Elections also loom in Australia, adding to the volatility and giving the Australian dollar a tough time. Economists expect the RBA to cut rates by 0.25% and bring down the interest rate to 1.25% latest by August.
At the time of writing, AUD/USD is trading at 0.692.
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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
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