AUD/USD: awaiting jobs report for clarity – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar gained strongly at the beginning of the day, as the RBA Minutes revealed that most voting members were reluctant to cut rates earlier this month.

Key Quotes:

“But the document also showed that the decision was based on broad based weakening of inflation pressures, which could not be explained by temporary factors.

The market is not so sure now about two more rate cuts ahead for this year, and some clues on the case can come this Thursday, when the country releases its latest employment data.

The AUD/USD pair recovered up to 0.7366 after the news, but returned to the 0.7320 region, where it stands ahead of the Asian opening, stuck around the 50% retracement of this year rally.”
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Source:: FX Street