AUD/USD posted losses for a fourth straight week, losing 100 points. The pair closed at 0.7035. This week’s key events include NAB Business Confidence and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.
The US dollar was broadly higher following the Non-Farm Payrolls report, which more than beat expectations, with 271K jobs gained and a 2.5% y/y gain in wages. This outstanding release points to a strong labor market, and certainly keeps the December rate hike option wide open. The RBA kept rates at 2.00%, but noted that a rate cut remains on the table.
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