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AUD Sinks on Soft Jobs Data, RBA Cut Bets Climb

From monetamarkets.com

The Australian Dollar slid sharply on Thursday as dismal labor market data reinforced expectations of a rate cut by the Reserve Bank of Australia. Risk sentiment remained subdued across Asia-Pacific markets, while traders digested cautious commentary from Japan’s top FX officials and a stronger-than-expected PBOC yuan fix. Meanwhile, the euro drifted lower ahead of key inflation data from the Eurozone, and the New Zealand dollar weakened as market tone turned risk-off. Traders are bracing for upcoming catalysts that could dictate FX direction heading into the weekend. AUD/USD slips to around 0.6620 following ... (full story)

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  • Category: Technical Analysis