AUD/USD justifies downbeat Australia employment data, as well as the broad risk-off mood, by refreshing the Year-To-Date (YTD) low near 0.6370 during
Australia Employment Change slumps to -14.6K, Unemployment Rate rises to 3.7% in July.Light calendar, oversold RSI may allow bears to take a breather but risk catalysts are the key to watch for clear directions.
Apart from the mostly downbeat Aussie jobs report, economic concerns surrounding Australia’s biggest customer China and the recent hawkish Minutes of the Federal Open Market Committee’s July 25-26 meeting weigh on the AUD/USD prices. At home, Australia’s Westpac Leading Index slid to -0.02% MoM for July from a downwardly revised prior of 0.07%. Further, China’s Housing Price Index dropped to -0.1% for July from 0.0% prior.
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