AUD/USD Recovers Above 0.6500 On Renewed USD Weakness
AUD/USD gained traction during the American trading hours on Friday and climbed above 0.6500. At the time of press, the pair was up 0.4% on the day at 0.6530.
US jobs data weigh heavily on USD
The US Dollar (USD) came under heavy selling pressure and fuelled AUD/USD's rebound. The data published by the US Bureau of Labor Statistics (BLS) showed that Nonfarm Payrolls (NFP) rose 114,000 in July. This reading followed June's increase of 179,000 (revised from 206,000) and missed the market expectation of 175,000 by a wide margin. Moreover, the Unemployment Rate climbed to 4.3% from 4.1% in June.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.93% | -0.48% | -1.09% | -0.12% | -0.36% | -0.30% | -0.93% | |
| EUR | 0.93% | 0.45% | -0.13% | 0.80% | 0.57% | 0.62% | -0.00% | |
| GBP | 0.48% | -0.45% | -0.62% | 0.37% | 0.10% | 0.18% | -0.43% | |
| JPY | 1.09% | 0.13% | 0.62% | 0.99% | 0.73% | 0.78% | 0.17% | |
| CAD | 0.12% | -0.80% | -0.37% | -0.99% | -0.24% | -0.16% | -0.79% | |
| AUD | 0.36% | -0.57% | -0.10% | -0.73% | 0.24% | 0.08% | -0.56% | |
| NZD | 0.30% | -0.62% | -0.18% | -0.78% | 0.16% | -0.08% | -0.60% | |
| CHF | 0.93% | 0.00% | 0.43% | -0.17% | 0.79% | 0.56% | 0.60% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The benchmark 10-year US Treasury bond yield is down more than 3% on the day below 3.9%, putting additional weight on the USD's shoulders.
Meanwhile, disappointing labor market data seem to be hurting the risk sentiment. As we head to Wall Street's opening bell, US stock index futures are down between 1.1% and 2.15%. Since the economic calendar will not offer any other high-impact data releases ahead of the weekend, the risk-averse market atmosphere could help the USD limit its losses.
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