On Thursday in European trading, the Australian dollar (AUD) gained strength against all major currencies, except for the New Zealand dollar (NZD). It rose 0.35% against the US dollar (USD), trading at around 0.7262. This increase appears to be driven by a positive market sentiment linked to hopes of resolving the ongoing conflict between the US and Iran.
Australian dollar price today
The following table illustrates today’s percentage change in the Australian Dollar (AUD) compared to major currencies. Notably, the Australian dollar performed well against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Australian Dollar | New Zealand Dollar | Swiss Franc | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.21% | 0.00% | -0.04% | -0.27% | -0.30% | -0.15% | |
| EUR | 0.18% | -0.03% | 0.20% | 0.15% | -0.08% | -0.12% | 0.03% | |
| GBP | 0.21% | 0.03% | 0.21% | 0.18% | -0.06% | -0.09% | 0.05% | |
| JPY | 0.00% | -0.20% | -0.21% | -0.06% | -0.28% | -0.35% | -0.15% | |
| CAD | 0.04% | -0.15% | -0.18% | 0.06% | -0.22% | -0.25% | -0.11% | |
| Australian Dollar | 0.27% | 0.08% | 0.06% | 0.28% | 0.22% | -0.04% | 0.11% | |
| New Zealand Dollar | 0.30% | 0.12% | 0.09% | 0.35% | 0.25% | 0.04% | 0.15% | |
| Swiss Franc | 0.15% | -0.03% | -0.05% | 0.15% | 0.11% | -0.11% | -0.15% |
The heat map illustrates the percentage change between major currencies, with the base currency on the left and the quote currency across the top. For instance, selecting the Australian Dollar in the left column and moving horizontally to the US Dollar shows the percentage change in that box as AUD compared to USD.
Meanwhile, S&P 500 futures reached an all-time high of 7,382 during European trading. The US Dollar Index (DXY), which measures the dollar’s strength against a basket of six major currencies, decreased by 0.12%, landing at 97.90.
Market optimism about a potential peace agreement between the US and Iran has increased, especially after a report from Al Arabiya’s sister channel, Al Hadas, expressed confidence that a resolution regarding the stranded ship in the Channel could emerge soon.
Looking ahead, the upcoming US non-farm payroll (NFP) data, due for release on Friday, is anticipated to be a key factor influencing the Australian dollar. Investors will be keen to glean insights into the Federal Reserve’s monetary policy from this report.
This labor market report is expected to show an addition of around 60,000 jobs, a notable drop from March’s total of 178,000. The unemployment rate is forecasted to stay steady at 4.3%, while average hourly wages are projected to rise by 3.8% year-on-year, which is slightly above last year’s growth rate of 3.5%.
Economic Indicators
Payroll Calculation for Non-Agricultural Sectors
The Nonfarm Payrolls report provides insights into the number of new jobs created in the US across all nonfarm sectors during the previous month. This data is issued by the US Bureau of Labor Statistics (BLS). Monthly job numbers can change significantly, and this figure is often subject to revisions that might lead to volatility in the forex market. It’s essential to look at previous month revisions and unemployment rates alongside the headline figures, as higher numbers tend to be seen positively regarding the US dollar (USD), whereas lower figures could be perceived negatively. Thus, the market’s reaction will rely on how investors interpret the overall context of the BLS report.
