AUD/USD experiences an extended decline following release of labor market figures from Australia during Asian session. Federal Reserve's projection of higher interest rates continues to favor USD. Despite clearing some losses, US Treasury yields remain down by more than 2%. The Australian Dollar fell further against the US Dollar on Thursday despite strong labor market data from Australia reported earlier in the session.
The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD.
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