Fundamental Forecast for the Australian Dollar: Bearish
- Aussie Dollar at Risk as Jobs Data Amplifies RBA Rate Cut Probabilities
- China Data Unlikely to Offset Pressure from Fed Rate Hike Speculation
- Find Critical Turning Points for the Australian Dollar with DailyFX SSI
The Australian Dollar continued to sink, registering a fourth consecutive week of losses and hitting a monthly low against its US counterpart. External factors conspired against the currency even as the RBA shied away from an interest rate cut and signalled it is not in a rush to ease in the near term. Upbeat US jobs data inspired the bulk of the losses, with a swell in December Fed rate hike expectations amplifying policy divergence headwinds and sinking the Aussie as expected.