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Another tough week for the Aussie as global risk aversion takes hold and a weak Australian jobs number signals that the RBA may come with a rate cut sooner rather than later.

Overlay of AUD Pairs & Gold (Black Line): 1-Hour Forex Chart
Overlay of AUD Pairs & Gold (Black Line): 1-Hour Forex Chart

Australian Headlines and Economic data

Monday:

Tuesday:

Wednesday:

Thursday:

Friday:

  • A short burst of broad Aussie weakness in the early Asia session, most likely in sympathy with the Kiwi selloff after a weak NZ manufacturing update.  Global risk aversion behavior is also a likely contributor after tensions rise in the Middle East following the Thursday oil tanker attacks.