The US Dollar (USD) continued to face selling pressure on Thursday, extending its losses from the previous day and breaking below the significant 106.00 support level, as reflected in the Dollar Index (DXY).
AUD/USD managed to regain the smile and bounce off 0.6400. The US Dollar maintained its bearish stance ahead of key US NFP. The Australia n trade surplus widened above estimates in October. The US Dollar continued to face selling pressure on Thursday, extending its losses from the previous day and breaking below the significant 106.00 support level, as reflected in the Dollar Index . Meanwhile, the Australia n Dollar grabbed some fresh breathing room and traded with humble hains near the 0.
October’s CPI data showed inflation holding steady at 2.1%, but the RBA has warned against making long-term assumptions based on one data point. For now, the central bank appears in no rush to cut rates, with any potential easing unlikely before the second quarter of 2025. What lies ahead for AUD/USD The Australian Dollar faces a challenging mix of risks and potential tailwinds.
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