Australian Dollar Rises After Strong Employment Report (FXA)

The Australian dollar and the Australian Dollar Currency Trust (NYSE: FXA) are up after Australian job creation was stronger than expected in December.

Job growth has increased for the fourth straight month and is fanning speculation about further RBA rate hikes.

Employment rose by 35.2K from a month earlier, more than three times the median economists’ estimate of 10K with part-time jobs jumping 27.9K. Additionally, the jobless rate fell to 5.5% from 5.6% in November.