Australian Dollar Daily Outlook: US Jobs Report and Fed Chair Powell
During the US session, a strong US Jobs Report and a hawkish Fed Chair Powell could lower bets on multiple Fed rate cuts. This would likely widen the US-Aussie interest rate differential in favor of the US dollar, potentially pulling the AUD/USD pair toward the 50-day EMA and $0.63.
Conversely, a cooling labor market and a dovish Fed Chair would narrow the rate differential, supporting an AUD/USD move toward the $0.63623 resistance level.
