Investors can expect a lighter release schedule on Tuesday as they brace for a more active second half of the week headlined by US jobs data and central bank speeches. How will these affect AUDUSD movements? Let's find out with this 3 October AUDUSD Fundamental Outlook from OctaFX.
3 October, OctaFX - Action begins in Europe at 07:00 GMT with a report on Spain’s unemployment situation. The total level of unemployed is expected to rise by 21,300 for September, following an increase of 43,300 the month before.
3 October AUDUSD Fundamental Outlook
A dovish RBA weighed on the Australian dollar Tuesday, as the AUD/USD dipped below 78 cents. The pair was down 0.4% to trade at its lowest level in around seven weeks. The Aussie has declined roughly 300 pips against the US dollar since 20 September.
In the meantime, the greenback has regained momentum against a cross-section of its competitors. The short-term outlook is tilted to the downside as a bearish central bank continues to drive away the bulls.
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