AUD/USD Retreats to 0.6700 as Aussie Moves Lower

China’s Caixin Services Purchasing Managers’ Index (PMI) for December was better than expected, and improved risk sentiment triggered a brief rebound in AUD/USD. AUD/USD continued to fall back on Thursday, falling back to the 0.6700 mark.

Investors are preparing for the latest U.S. non-farm payrolls data for December, which will conclude the first trading week of 2024. The market expects the latest U.S. labor force data to show 170,000 new jobs in the final reporting period of 2023. , compared with 199,000 in November.

The U.S. ADP employment change released on Thursday was generally better than expected, showing a net increase of 164,000 in U.S. ADP employment, compared with the median market forecast of 115,000 and 101,000 last month (slightly revised down from 103,000). Since then, investment Investors are scrambling to raise their non-agricultural forecasts. However, given the widening gap between official employment data and changes in US ADP payrolls, investors should proceed with caution as the discrepancy continues to make non-farm payrolls expectations uncertain.

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