AUD/USD: Aussie trades lower on dovish RBA talk and US Dollar recovery
- AUD is on the back foot as the RBA turns dovish.
- AU job data was mixed.
AUD/USD is now trading around 0.7926, in New York session, falling by 0.15% on a broad recovery of the US dollar coupled with mixed Australian job data released on Thursday. The AUD came under mild pressure after dovish speech from the Reserve Bank of Australia (RBA) Governor earlier on Friday who expressed concerns about the currency strength saying the RBA would prefer lower AUD.
The US Dollar recovered on Friday after Japanese government said that it is watching Yen move with “greater” sense of concern and it is ready to intervene when needed. Earlier AUD was also being helped by upbeat commodities.
Job data from Australia released on Thursday were mixed. Although headline employment numbers came above estimate, the full-time jobs declined by more than 60K. Overall, this job report along with muted AU wage growth has nothing for the RBA to move out of its longtime neutral stance in the foreseeable future.
Technically, AUDUSD now has good support around 0.7750 zone.
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