AUD/USD cheers risk-on mood-led USD weakness, Aussie jobs. US stimulus hopes, dovish Fed weigh negatively on the greenback. Focus shifts to US weekly jobs data and stimulus updates. AUD/USD challenges the 0.7600 level, extending its four-day winning streak into European trading. The pair sits at the highest levels since June 2018, underpinned by the market optimism and ongoing US dollar sell-off. The US dollar’s slide can be mainly attributed to the optimism over the progress on a US $900 billion covid aid package. Meanwhile, the Fed’s dovish take on the inflation and employment outlook also adds to the weight on the buck, The US dollar index trades at the weakest level in two-and-a-half years, now challenging the 90 level, down 0.48% on the day. The aussie bulls also cheer strong Australian employment data, which showed that the country’s jobless rate fell to 60.8% in November while seeing the addition of a bigger-than-expected job of 90K. The upbeat jobs report eases the pressure off the RBA to deploy additional easing measures. Moreover, markets took note of the comments from the Australian Treasurer Josh Frydenberg on the trade issues with China, as he presented the Mid-Year Economic and Fiscal Outlook (MYEFO) earlier today. From a broader perspective, easing dovish RBA expectations, vaccine and US stimulus optimism will continue to bode well for the higher-yielding aussie, as we head towards the year-end holiday season. In the meantime, the updates on a potential US aid package deal and weekly jobless claims data will be closely eyed for near-term trading opportunities in the major. AUD/USD technical levels “AUD/USD bulls need a clear break above 0.7585 to confirm the stated bullish formation. Also acting as an upside barrier is the 0.7600 round-figure. Meanwhile, a pullback move below 100-HMA, at 0.7548 now, negates the bullish chart and can direct the short-term AUD/USD sellers toward the weekly low near 0.7500,” explains FXStreet’s Analyst Anil Panchal. AUD/USD additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Brexit, stimulus optimism depresses dollar after the Fed, BOE eyed as Bitcoin tops $22K FX Street 2 years AUD/USD cheers risk-on mood-led USD weakness, Aussie jobs. US stimulus hopes, dovish Fed weigh negatively on the greenback. Focus shifts to US weekly jobs data and stimulus updates. AUD/USD challenges the 0.7600 level, extending its four-day winning streak into European trading. The pair sits at the highest levels since June 2018, underpinned by the market optimism and ongoing US dollar sell-off. The US dollar’s slide can be mainly attributed to the optimism over the progress on a US $900 billion covid aid package. Meanwhile, the Fed’s dovish take on the inflation and employment outlook also adds to the weight on… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
