- January 8, 2022
- Posted by: Stratford Team
- Category: Economy
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- AUD/USD has been choppy on Friday in wake of a mixed US labour market report.
- The pair is now trading in the 0.7180s having dipped as low as the 0.7130s.
- The dollar weakened broadly despite the jobs report spurring upside in yields on Fed tightening expectations.
AUD/USD was choppy on the final day of the first week of 2022, dipping as low as the 0.7130s in pre-US open European trade before eventually rebounding 50 pips in wake of a mixed US jobs report to the 0.7180s. The rally has stalled in this area given the presence of the 21-day moving average at 0.7190 and the Monday/Tuesday lows at 0.7185. On the day, that means AUD/USD is on course to gain around 0.3%, a fairly uninspired performance when compared to the gains some of its G10 peers are enjoying versus the US dollar in wake of the jobs data. And on the week, AUD/USD is still set to close about 1.2% lower.
FX strategists were perplexed at the dollar reaction to the…
