Aussie Gains Versus U.S. Dollar Before China Data, Jobs Reports
The Australian dollar rose against its U.S. counterpart before a report that’s forecast to show the nation’s employers added jobs in July.
New Zealand’s dollar declined against the greenback before data that may show the nation’s unemployment rate fell in the second quarter from the highest level since 2010. China, Australia’s largest trading partner, reports data today on consumer and producer prices.
The Aussie dollar gained 0.2 percent to $1.0571 yesterday in New York after touching $1.0604 on Aug. 7, the highest since March 20. The currency slipped less than 0.1 percent to 82.93 yen.
New Zealand’s dollar, nicknamed the kiwi, declined less than 0.1 percent to 81.58 U.S. cents. It fell 0.3 percent to 63.94 yen.
Consumer prices in China, the world’s second largest economy, rose 1.7 percent in July from the previous year, according the median estimate of economists surveyed by Bloomberg, compared with a 2.2 percent gain in June. Producer prices fell 2.5 percent, versus a 2.1 percent drop in June.
Australia added 10,000 jobs last month after dropping 27,000 in June, according to the median forecast of economists surveyed by Bloomberg News before the country’s Bureau of Statistics reports the data today. The unemployment rate likely increased to 5.3 percent, from 5.2 percent in June.
The jobless rate in New Zealand fell to 6.5 percent in the second quarter, another Bloomberg survey forecast before Statistics New Zealand issues the data today. It was 6.7 percent in the first quarter.
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