The Australian dollar fell against the greenback overnight, hitting a daily low of 0.6779 on the back of a mixed employment report and the RBA Bulletin. According to the official release, the country added 34.7K new jobs in August.
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USD/JPY is flat in the Tokyo opening hour as we wind down into the close for the week following a data-heavy number of sessions which have left more questions unanswered and the outlook murky.
Successful trading beyond 100-day simple moving average (DMA) fails to lend much strength to the GBP/USD pair as it struggles around 1.2520 during Friday morning. A rising trend-line since August-end, seems to challenge buyers.
Mr. Powell warned against assuming that this was the beginning of a rate cutting cycle. “That is not what we are seeing now, that’s not our perspective now.’ He noted that the Fed has gradually moved to a more accommodative policy this year from a rate increase last December to a pause for several months and then to this cut. The dangers that the Fed sees facing the American economy are not homegrown but are global and trade factors from the China dispute and Brexit to the worldwide slowdown in growth.
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