The AUD/USD is pinning into a nine-week high bid above the 0.
The AUD/USD has pushed into a 2-month high as the US Dollar slumps post-NFP. Market sentiment has flipped firmly risk on as investors no longer fear more Fed rates. RBA due next week, markets expecting an additional 25 bps. 6500 handle as the Aussie capitalizes on US Dollar weakness following a flubbed Nonfarm Payrolls reading, and risk-on market sentiment is sending the Aussie into its sixth green candleout of the last seven consecutive trading days.
With markets hoping for an easing monetary policy outlook to make borrowing and lending cheaper once again, negative economic data for the US will remain market-positive as recession factors will push the Fed towards rate cuts sooner rather than later.
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