The Aussie declines sharply after the employment change report 

By @ibtimes on

The Australian dollar has witnessed a sharp drop to the lowest level in 5 days against the US dollar after the Australian released its report about the employment rate change in April, where the economy lost 22100 workers, comparing with the expectations that referred to hiring about 17000 workers, while the unemployment rate unchanged steady at 4.9%.

Australian employers unexpectedly cut workers in April by the most since 2009, due to as hiring weakens in states that haven't a mining boom.

Moreover, the AUD declined sharply versus the greenback counterpart after employment change report, where the expectations increased that the RBA won't increase the interest rates during the next meeting, reduced the demand for the Australian dollar.

At 02.52 GMT, the AUD/USD pair trades around 1.0614, after recorded the lowest level at 1.0584, while it started Thursday session at 1.0690.

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