AUD/USD lost about 100 points last week, and briefly slipped below the 0.75 line for the first time in over six years. The pair closed the week at 0.7746. This week’s highlights are the Cash Rate and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
There was plenty of US job numbers for the markets to chew on last week. Nonfarm Payrolls showed a gain 223K jobs in June, slightly below expectations. The unemployment rate dropped more than expected, but wages disappointed. Australian Building Approvals looked sharp, but Retail Sales and Trade Balance both fell short of expectations.
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