Australian dollar steadies, markets await jobs data for steer on rates
SYDNEY: The Australian and New Zealand dollars looked a little steadier on Wednesday as the greenback’s bull run took a breather, though both were still uncomfortably close to major support levels. The Aussie was a fraction firmer at $0.6987, having bounced almost 0.4% overnight. A break of resistance at $0.6995 would open the way for a move to $0.7045, while support lies at $0.6933 and $0.6904.…
SYDNEY -- The Australian and New Zealand dollars showed a bit of stabilization on Wednesday as the U.S. dollar's upward trend paused, although both currencies remained near crucial support levels. The Australian dollar climbed marginally to $0.6987, up 0.4% from the previous day, while the New Zealand dollar rose 0.5% to $0.5615 following an overnight increase.
Traders will be closely monitoring the upcoming September jobs report, which is expected to provide insight into employment trends and inflation, potentially influencing the Reserve Bank of Australia's monetary policy decisions.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
