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AUD/USD declines further to near 0.6460 on weak Aussie job data, firm USD
The post AUD/USD declines further to near 0.6460 on weak Aussie job data, firm USD appeared on BitcoinEthereumNews.com. AUD/USD posts a fresh three-month low near 0.6460 as the US Dollar continues to move higher. Trump’s clean sweep will allow him to implement policies without interruption. RBA Bullock favored keeping interest rates at their current levels as inflation is still not under control. The AUD/USD pair extends its downside journey to near 0.6460 in European trading hours on Thursday. The Aussie pair prints a fresh three-month low on multiple headwinds, weak Australian Employment data for October, and the upbeat US Dollar (USD). Australian labor market data showed that the economy added 15.9K new workers, fewer than estimates of 25K and the former release of 61.3K. A slowdown in the labor demand diminished fears of price pressures remaining persistent for a longer period. The Unemployment Rate remains at 4.1%, as expected. Though some signs of a slowdown in job growth are visible, the Reserve Bank of Australia (RBA) is less likely to cut interest rates sooner as Governor Michelle Bullock commented on Wednesday that interest rates are needed to remain at their current levels until the central bank get inflation under control. Meanwhile, the US Dollar adds more gains as President-elected Donald Trump locks both United States (US) houses, the Senate and the House of Representatives, a scenario that will allow Republicans to implement policies smoothly. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rises vertically to near the key resistance of 107.00, the highest level seen in more than a year. In the election campaign, Trump vowed to raise import tariffs and lower taxes. Going forward, investors will focus on Federal Reserve (Fed) Chair Jerome Powell’s speech for fresh guidance on interest rates. According to the CME FedWatch tool, the central bank is expected to cut interest rates by 25 basis points (bps) to…
The post AUD/USD declines further to near 0.6460 on weak Aussie job data, firm USD appeared on BitcoinEthereumNews.com.
AUD/USD posts a fresh three-month low near 0.6460 as the US Dollar continues to move higher. Trump’s clean sweep will allow him to implement policies without interruption. RBA Bullock favored keeping interest rates at their current levels as inflation is still not under control. The AUD/USD pair extends its downside journey to near 0.6460 in European trading hours on Thursday. The Aussie pair prints a fresh three-month low on multiple headwinds, weak Australian Employment data for October, and the upbeat US Dollar (USD). Australian labor market data showed that the economy added 15.9K new workers, fewer than estimates of 25K and the former release of 61.3K. A slowdown in the labor demand diminished fears of price pressures remaining persistent for a longer period. The Unemployment Rate remains at 4.1%, as expected. Though some signs of a slowdown in job growth are visible, the Reserve Bank of Australia (RBA) is less likely to cut interest rates sooner as Governor Michelle Bullock commented on Wednesday that interest rates are needed to remain at their current levels until the central bank get inflation under control. Meanwhile, the US Dollar adds more gains as President-elected Donald Trump locks both United States (US) houses, the Senate and the House of Representatives, a scenario that will allow Republicans to implement policies smoothly. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rises vertically to near the key resistance of 107.00, the highest level seen in more than a year. In the election campaign, Trump vowed to raise import tariffs and lower taxes. Going forward, investors will focus on Federal Reserve (Fed) Chair Jerome Powell’s speech for fresh guidance on interest rates. According to the CME FedWatch tool, the central bank is expected to cut interest rates by 25 basis points (bps) to…
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