AUSTRALIAN DOLLAR RECOVERS AFTER US JOLTS DATA, STILL SHOWS NO SIGNS OF RECOVERY

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  • The Aussie halts decline near 0.6485 with 0.1% rise.
  • Despite strong US labor data, the USD remains soft as profit-taking weighs on the buck later in the session.
  • The Aussie is supported by a surge in commodities.

In Tuesday's session, the AUD/USD pair partially recovered after Monday's decline following the release of mid-tier US labor data. Despite strong data, the USD weakened primarily due to profit-taking, aiding the Aussie's rebound.

However, the Aussie remained below the 0.6500 level. The pair faced pressure from the widening Australian Current Account deficit and the US Dollar's resurgence due to decreasing risk sentiment prompted by concerns about China's economy and impending tariffs. Market participants now await high-impact US economic data for further guidance. On Wednesday, the US will release ISM Services PMIs and ADP Employment Change figures and on Friday, the economic calendar will feature November’s Nonfarm Payrolls.


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