The Australian dollar has peaked at 94.39 cents to the U.S. Greenback; up from 93.94 cents on Thursday. This month’s high comes on the back of better than expected employment figures which hovered around 5.8%.

economistsEven though total employment fell slightly by 4800, things aren’t as bad as they first seem. Actual full time employment increased by 22,000 jobs; while part time employment took the full brunt of the losses (26,800). Many of those part timers (it is hoped) would have had their hours increased to a full time workload.

Economists are still eagerly awaiting the release of Chinese trade data. Buoyant figures will suggest our largest trading partner will maintain its demand and support our retail and industrial sectors. In turn this will further minimize Australia’s dependence on mining and add value to our dollar.

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