The AUD/USD pair trades in a tight range above the round-level support of 0.6700 in Thursday’s European session.
AUD/USD stays in a tight range above 0.6700 despite multiple tailwinds. A hawkish guidance from RBA Bullock on interest rates fails to uplift the Australian Dollar . Weak US JOLTS Job Openings data weighs heavily on the US Dollar. The Aussie asset fails to find bids despite weakness in the US Dollar and Reserve Bank of Australia Governor Michele Bullock’s hawkish guidance on interest rates.
The Aussie asset consolidates as investors look for fresh cues about how much the Federal Reserve will cut interest rates in its September meeting. The Fed is widely anticipated to start reducing interest rates this month as downside risks to the United States labor market have increased and the progress in the disinflation process towards bank’s target of 2% remains intact.
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