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AUDUSD: Intraday Analysis & Forecast

The Australian dollar has slipped back below the 0.6500 psychological handle once more. Yesterday, we saw Australian employment change data beat estimates despite unemployment ticking 0.1% higher. Overall, the Australian labor market remains tight and will keep the Reserve Bank of Australia (RBA) on its toes.

From a USD perspective, continuous jobless claims data rose to levels last seen roughly two years ago alongside an initial claims beat. Recent US economic data is showing signs of weakness but Fed officials fought back with some hawkish messaging in support of Fed Chair Jerome Powell’s recent comments.

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