The Australian Dollar (AUD) extended declines over the week against the US Dollar (USD) reaching 0.6398 the August 24 low before price recovered on big dollar weakness in early Friday to 0.6455. US jobs data for last week put the USD under pressure. RBA rate cuts are now starting to enter discussions starting in April 2025 after disappointing third quarter GDP data of 0.3% falling short of the 0.4% forecast. Annual GDP has also dropped to well under 1.0% to 0.8%. Non-Farm Payroll will be key Saturday morning as this may spark a bull run in the AUD if data surprises to the downside.
The current interbank midrate is: AUDUSD 0.6449
The interbank range this week has been: AUDUSD 0.6398- 0.6514