A solid US jobs report Friday moved the Australian Dollar (AUD) lower against the US Dollar (USD) closing the week around the 0.6570 zone. Non-Farm Payroll showed further jobs were added to the economy in November beating expectations of 184k to 199k, some suggesting the US economy could be setting up for a soft economic landing. Unemployment also came in better than expected at 3.7% after 3.9% was expected pushing investors to buy the greenback. The Fed cash rate will publish Wednesday and should remain at 5.5% but not before key US CPI y/y. Whatever happens will set the tone for the following couple of months for AUD/USD direction.
The current interbank midrate is: AUDUSD 0.6566
The interbank range this week has been: AUDUSD 0.6549- 0.6582