The Australian markets commemorated Labour Day without much excitement as the Australian dollar remained unchanged. As of 7am, the Australian unit traded at 94.40, slightly below Friday’s closing at 94.43.
This was expected as Australia and the rest of the world anticipates the next move of the United States regarding its federal government shutdown. Because of this, traders have decided to lay low rather than trade. The labour force data is expected to be released Thursday of this week, as the unemployment rate was at 5.8% as of August this year, according to the Australian Bureau of Statistics.
Read more about this on the News.com.au website.
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