The AUDUSD consolidates above 0.6450 following mixed US employment data.
The AUDUSD rebounds from its losses from the previous session. Trading higher at 0.6460 during the Asian session on Monday. The pair fell as a result of mixed employment data from the United States (US) issued on Friday. The mild statistics support the prospect. That the US Federal Reserve (Fed) will not alter interest rates at its September meeting.
The August Nonfarm Payrolls data in the United States showed a reading of 187K, compared to the previous month’s reading of 186K. 170K is the market consensus. In July, the figures showed a value of 157K. Average Hourly Earnings (Aug) fell to 4.3%. Which was predicted to remain unchanged from the previous figure of 4.4%.
After the tepid employment data, investors are becoming apprehensive about the Fed’s predicted 25 basis point rate move.
However, investors are still expecting the US Federal Reserve (Fed) to raise interest rates by 25 basis points (bps). Which works as a headwind for the AUDUSD pair and restricts the pair’s gains.
AUDUSD traders believe the RBA will prolong the rate freeze for a second month in a row.
On Tuesday, AUDUSD players will be watching the Reserve Bank of Australia (RBA) monetary policy meeting. The RBA is set to prolong the rate pause for the second consecutive month. Defying the projected quarter-point rate rise as the country’s cost pressures ease.
The United States Dollar (USD), , which compares the performance of the US dollar against six other major currencies, is currently hovering at 104.20. Furthermore, higher US Treasury rates supported the buck, which finished at 4.18% on Friday. AUDUSD players are waiting for further information from the Fed on its next policy decision, after strong US Nonfarm Payrolls data increased worries about the inflation outlook.
https://voiceoftraders.com/analysis/audusd-pair-remains-flat-below-the-0-6500-level
