US Dollar Index revisits four-plus-month high buoyed by Republican victory in US election.
Australian employment report anticipates a rise of 25K workers in October, which might influence the RBA's monetary policy action in December.
The US will release inflation data this week, which might also shake up the pair.
The AUD/USD declined by 0.24% to 0.6570 in Monday's session as the US Dollar Index (DXY) strengthened to a four-month high, bolstered by the Republican victory in the US election last week. The Australian labor market report, due this week, is expected to show job growth of 25K in October, influencing the Reserve Bank of Australia's (RBA) decision on monetary policy in December. The Australian Wage Price Index for Q3, also scheduled for release this week, could add upward pressure on inflation.
AUD/USD has declined due to strong US economic data, hawkish US Federal Reserve (Fed) bets, and a broader strengthening of the US Dollar. The RBA's hawkish stance has not been enough to support the Aussie but might eventually limit its downside.
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