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AUD/USD weekly outlook: June 10th 2024
What a difference one report can make. Friday’s strong NFP report saw the US dollar surge and unwind all of the prior week’s losses within a couple of hours. And that leaves hopes of a September Fed cut in tatters. The 272k jobs added blew away the 182k expected and earnings was also higher, which saw traders look past unemployment rising to a 2-year high of 4%. The USD index rose 1.4% from the day’s low to high on Friday and AUD/USD suffered its worst day’s performance in five weeks. It will be a slow start to the week with public holidays in Australia and Hong Kong and local stock exchanges closed. Apart ... (full story)