The Australian Dollar (AUD) remained under pressure following Wednesday’s marked rebound vs.
AUD/USD traded in an inconclusive fashion in the low 0.6400s. The Dollar’s rebound weighed on the pair. The Australia n labour market came in mixed in March. The Australia n Dollar remained under pressure following Wednesday’s marked rebound vs. the Greenback, motivating AUD/USD to hover around the 0.6430 region on Thursday.
Considering the Fed's resolute stance on tightening monetary policies and the possibility of the RBA initiating an easing cycle later in the year, AUD/USD is likely to encounter sustained downward pressure in both the short and medium terms. Additionally, recent Chinese results from key fundamentals remained far from reigniting hopes of a sustainable rebound in that economy, which is expected to eventually lend legs to an equally strong and convincing bounce in AUD.
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