- Capital Economics (based on WBP Online)
The Australian Dollar suffered a rather sharp loss against its US counterpart for the third consecutive day, falling to the lowest in slightly more than three months. The Aussie managed to post some gains during the Asian session, but the Greenback once again pushed the AUD/USD lower ahead of the NFP data. The data itself was completely ignored, with the pair hovering above the 0.70 psychological level where trade is likely to close. Meanwhile, technical indicators are also unable to provide any clear sense of direction, suggesting the Aussie might remain in flat.
Bullish market sentiment remains unchanged at 71%, whereas the portion of orders to acquire the AUD edged higher from 36 to 43%.