AUD/USD keeps the red below 0.6300, focus shifts to Australian jobs report on Thursday – by hareshmenghani AUDUSD Fed Bonds Employment Currencies
ay. The pair maintains its offered tone through the early North American session and is currently placed near the daily low, around the 0.6280-0.6275 region.
The US dollar makes a solid comeback in the wake of a breakout rally in the US Treasury bond yields and turns out to be a key factor exerting downward pressure on the AUD/USD pair.
Apart from this, the Reserve Bank of Australia's decision to slow the pace of policy tightening earlier this month suggests that the path of least resistance for the AUD/USD pair is to the downside. Hence, a subsequent slide back below the 0.6200 round-figure mark, towards challenging the YTD low near the 0.6170 region touched last week, looks like a distinct possibility.
That said, traders seem reluctant to place aggressive bearish bets and prefer to wait for the monthly employment details from Australia, due for release during the Asian session on Thursday. In the meantime, the USD price dynamics will continue to influence , which, along with the broader risk sentiment, should allow traders to grab short-term opportunities.
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