The Aussie updated its multi-year lows. Overview for 20.02.2020

The statistics made AUDUSD plummet towards its new bottom.

On Thursday morning, the Australian Dollar is updating its multi-year lows against the USD. The current quote for the instrument is 0.6639.

Onу can’t say that something terrible happened but the Aussie plunged in no time. 

In the morning, Australia reported on the employment sector. Of course, the document just couldn’t contain any positive news after forest fires in January and the Chinese coronavirus story, but investors’ response was pretty unexpected. 

The Unemployment Rate in Australia expanded up to 5.3% in January after being 5.1% the month before. At the same time, the Employment Change was 13.5K against the expected reading of 10.0K. In December 2019, the indicator showed 28.7K. 

Market players probably worsened their expectations relating to the statistics from Australia, thinking that the consequences of fires might be much more serious than expected and assuming that the Chinese outbreak issues might continue throughout the entire first half of 2020. China has always been and will remain Australia’s key trade and economic partner, that’s why everything that happens in the Chinese economy has a direct influence on the Aussie.