Retail Sales in Australia declined by 0.3% in January. US Dollar Index struggles to recover above 97. 10-year US Treasury bond yield erases more than 20% ahead of NFP data. The AUD/USD pair rose to its highest level in two weeks at 0.6658 during the European early trading hours but struggled to push higher as investors seem to be booking their profits ahead of the Nonfarm Payrolls (NFP) data. As of writing, the pair was trading at 0.6630, adding 0.25% on a daily basis. AUD ignores disappointing sales data Earlier in the day, the data published by the Australian Bureau of Statistics showed that Retail Sales in January declined by 0.3% on a monthly basis and came in worse than the market expectation for a no-change. However, the broad-based USD weakness didn’t allow the pair to edge lower after this data. Heightened expectations for another Fed rate cut in March and slumping US Treasury bond yields continue to weigh on the USD. At the moment, the 10-year US Treasury bond yield is erasing 22% on the day and the US Dollar Index is at its lowest level since March 2019 at 95.85. Previewing the NFP data, “we get the US jobs report for February today. Judging from the latest ADP and ISM signals, we expect to see a decent report with ongoing healthy job creation,” Danske Bank analysts said. The market expectation stands at 175K following January’s reading of 225K. Technical levels to watch for 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 GBP/USD: Targets above 1.30 – TDS FX Street 3 years Retail Sales in Australia declined by 0.3% in January. US Dollar Index struggles to recover above 97. 10-year US Treasury bond yield erases more than 20% ahead of NFP data. The AUD/USD pair rose to its highest level in two weeks at 0.6658 during the European early trading hours but struggled to push higher as investors seem to be booking their profits ahead of the Nonfarm Payrolls (NFP) data. As of writing, the pair was trading at 0.6630, adding 0.25% on a daily basis. AUD ignores disappointing sales data Earlier in the day, the data published by the Australian Bureau… 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.