Daily digest market movers: Australian Dollar declines against US Dollar after mixed US job data
- US NFP report shows weaker-than-expected job growth, with 142K fresh payrolls against expectations of 160K.
- Unemployment Rate fell to 4.2% as anticipated, from the prior 4.3%.
- Following the data, the likelihood of the Fed starting interest rate cuts this month remained steady, with a 45% chance of a 50 bps reduction to 4.75%-5.00%.
- On the other hand, RBA Governor Bullock's hawkish stance reinforces the belief that interest rates will remain unchanged in the short term.
- Withhile monetary policy divergences between the Fed and RBA becoming ever clearer, the downside for the Aussie is limited.
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