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AUD Fails To Cling On To Gains Registered On Robust Jobs Data

AUSSIE

AUD/USD meandered through most of the day on Thursday, as a robust domestic labour market report helped the Aussie withstand pressure from a softening yuan and continued Sino-U.S. jitters. The rate dipped into the WMR fix, as USD picked up a bid on the back of some fresh combative rhetoric vs. China from White House's Kudlow. The rate finished lower, but well within its recent range.

  • AUD/USD trades flat at $0.7150. A break under Aug 3 low of $0.7077 would expose Jul 24 low of $0.7064. Bulls look for a rebound above Aug 5/7 highs of $0.7241/43, which would shift focus to Feb 2019 high of $0.7284.
  • Focus today turns to a parliamentary testimony from RBA Governor Lowe.
  • Next week's relatively light docket features RBA Aug meeting minutes , due Tuesday.
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