Australian Dollar Tumbles Nation's Jobs

AUSTRALIA - Australian Dollar Result Nation's Jobs. The Australian Dollar fell against most of its major counterparts after the nation's employers unexpectedly cut the number of employees in April.

The Aussie went for half days, compared to American Dollar counterparts, as investors bet on lower central bank interest rate increases after unemployment rose in some states. New Zealand currency hit two days of losses grew after the index of production at a faster pace than previous months, the economy was recovering from February 1 earthquake.

"Today the data takes a bit of the beauty and Mystery of the Aussie Dollar, " Robert Rennie, chief currency strategist at Westpac Banking Corp. in Sydney.

Australian currency fell 0.4 percent to $ 1.0657 at 11:33 pm in New York because of $ 1.0700 yesterday, after touching $ 1.0567, the lowest fifth, the Aussie weakened 0.8 percent to 86.05 yen after yesterday's 1.1 percent decline. New Zealand dollar rose 0.9 percent to $ 79.59 cents, advanced 0.5 percent to 64.25 yen.

The number of people employed in Australia fell by 22,100 last month after a revised 43,300 gain in March, the statistics agency said today. Economists in a Bloomberg News survey forecast a 17,000 increase last month. The unemployment rate held at 4.9 percent.

Employment increased by 22,900 in Queensland and Western Australia, said the biggest number of participants in the largest mining investment boom in the history of the country. The number of jobs in New South Wales and Victoria, the home of Australia's two largest cities dropped by 56.2 thousand, today's report showed.

New Zealand Dollar rose rose after the execution of the manufacturing index to 51.5 from 50.2 last month in March. A reading above 50 indicates expanding manufacturing.