Weak Nonfarm Payrolls from June. However, wages accelerated, which should maintain steady hawkish bets on the Fed and limit the USD’s losses.

Nonfarm Payrolls from the US from June, and results were lower than expected. In that sense, the report stated that the US gained 209K jobs in June against the 225k expected and lower than the previous figure of 306K. Wage growth remained healthy at 0.4% MoM, above the 0.3% expected, while the Unemployment rate stood at 3.6%.

All eyes are now on next Wednesday’s (CPI) data from June from the US, which will continue modelling the expectations for the next Fed decision.

For the Australian economy remains strong but it may not contribute to a higher exchange

Rate. Interest rate futures are pricing two more lifts in the cash rate target by the end of the

Year from the RBA. The Fed’s next meeting in late July might provide some impetus for the

Next significant move in the Aussie Dollar.

 

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