AUD/USD drifted sideways on Wednesday, and further sideways action is expected to be seen ahead of the AU jobs figures this morning, at 01:30 GMT. This data is significant and will be seen as “a key test of the RBA’s assertion growth is close to trend and employment growth is ‘moderate’,” according to NAB. “As we noted yesterday, a clear downturn in the domestic indicators is likely needed to prompt a September rate cut.” NAB expects 15k Aussie jobs were added in July. "Should today’s run of data prove about as positive as we expect, the AUD/USD should continue to draw support from a high and rising yield differential," comments NAB.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.