The AUD/USD pair gains ground to around 0.6400 on the weaker US Dollar (USD) during the Asian session on Monday.
AUD/USD trades in positive territory near 0.6400 in Monday’s early Asian session. US Nonfarm Payrolls was stronger than expected in November, rising by 227,000 vs. 36,000 prior. The RBA is expected to hold the interest rate steady at 4.35% at its meeting on Tuesday. The AUD/USD pair gains ground to around 0.6400 on the weaker US Dollar during the Asian session on Monday. There are no Federal Reserve speakers this week due to the media blackout.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole.
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