Australian Dollar Surges to 4-Month High Amid Positive Chinese Data, Despite Rising Unemployment
The Australian Dollar climbed to 4-month highs against USD last week, with a 1.4% increase to 0.669. Unemployment unexpectedly ticked up to 4.1% in April, but positive Chinese data and more economic stimulus from the Chinese authorities helped support AUD against a weakening US Dollar.
Published on 21 May 2024
The AUD rose 1.4% to 0.669 against the USD, bolstered by Chinese economic stimulus and favorable data, even as Australia's unemployment edged up to 4.1% in April.
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