The Australian dollar meandered through Thursday’s trading session, near directionless as markets bide their time before this evenings US non-farm payrolls report for March.
Here’s the scoreboard as at 6.20am AEST:
- AUD/USD 0.7543 , -0.0023 , -0.30%
- AUD/JPY 83.53 , -0.21 , -0.25%
- AUD/CNH 5.1972 , -0.0097 , -0.19%
- AUD/EUR 0.7087 , -0.0008 , -0.11%
- AUD/GBP 0.6051 , -0.0009 , -0.15%
- AUD/NZD 1.0814 , -0.0047 , -0.43%
And here’s the AUD/USD daily chart, revealing that the Aussie is currently on track to close below its 200-day moving average for the first time since early March.
Most of the Aussie’s weakness occurred during Thursday’s Asian session.
All but ensuring a quiet start to Friday trade in Asia, there’s absolutely no major data releases scheduled in Australia or across the broader Asian region.
That means trade is likely to be quiet as markets wait for the release of tonight’s US non-farm payrolls report for March.
Economists are looking for an increase in payrolls of 180,000, down from 235,000 in February, leaving the unemployment rate steady at 4.7%.
Average hourly earnings — perhaps as important as the payrolls figure given its implication for US inflationary pressures — are tipped to tick higher by 0.2%.
The report will arrive 10.30pm AEST.
Before the payrolls report arrives, markets will receive trade and industrial output figures from Germany, France and UK.
Canada will also release unemployment figures for March along with US consumer credit growth for February.
On the Fed front, New York Fed president Bill Dudley will also speak while the two-day meeting between US president Trump and Chinese president Xi comes to its conclusion.