The AUD/USD pair jumps sharply towards 0.6440 as the US Dollar faces an intense sell-off.
AUD/USD climbs close to 0.6440 as market sentiment improves. The demand for the US Dollar dampens as investors hope that the Fed is done with hiking interest rates. RBA monetary policy and the US NFP data will be keenly watched. The US Dollar fell vertically to near 105.80 on disappointment from the US data and a steady interest rate policy from the Federal Reserve . The S&P500 has opened on a bullish note amid optimism that the Fed is done with hiking interest rates.
Going forward, investors will focus on the Nonfarm Payrolls data for September, which will be published on Friday. As per the consensus, employers hired 180K job seekers in October against the former release of 336K. The Unemployment Rate is seen unchanged at 3.8%. On the Australian Dollar front, investors shift focus to the interest rate decision by the Reserve Bank of Australia , which will be announced on Tuesday. Investors hope that the RBA could raise interest rates by 25 basis points to 4.
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