AUD/USD trades on a weaker note around 0.6745 in Monday’s early Asian session.
US NFP rose 206K in June versus 218,000 prior, better than the estimated.
The AUD strength holds amid stronger Australian economic data.
The AUD/USD pair edges lower to 0.6745, snapping the four-day winning streak during the early Asian session on Monday. The renewed US Dollar (USD) demand amid the cautious mood weighs on the pair. In the absence of any top-tier data releases from Australia and the US on Monday, the USD price dynamic will be the main driver for the AUD/USD pair.
US employment growth slowed in May, according to the US Bureau of Labour Statistics (BLS) on Friday. Nonfarm Payrolls (NFP) in the US increased 206K in June, followed by the 218,000 rise (revised from 272,000) recorded in May. This figure came in above the market expectation of 190,000.
Meanwhile, the Unemployment Rate ticked higher to 4.1% in June from 4% in May. The wage inflation, as measured by the change in the Average Hourly Earnings, dropped to 3.9% YoY in June from 4.1% in the previous reading, in line with market expectations.
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