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AUD/JPY falls for second day after Australia labor data
Australia’s unemployment rate rose to 4.6% in August, while full-time employment contracted and part-time roles increased.
FXStreet reports AUD/JPY extends its decline for a second day, trading around 110.80 during Asian hours on Thursday, as the Australian dollar stays under pressure after fresh domestic labor market data.
Australia’s unemployment rate rose to 4.6% in August from 4.5% in July, topping market expectations of 4.5%. Employment change beat forecasts with a gain of 39.5K jobs, but the composition looked weaker, with full-time employment contracting by 6.3K and part-time roles rising by 45.8K, while the labor participation rate edged up to 67.1%.
The broader backdrop also includes trade and growth signals, with the US and China agreeing to extend their bilateral trade truce through January 10. In Japan, S&P Global flash data showed the Composite PMI Business Activity Index slipping to 52.5 in September from 53.5 in August, while the Services PMI fell to 51.6 and the Manufacturing PMI declined to 54.1.