AUD/USD: A big beat in NFP may accelerate move towards the YTD low of 0.65 – TDS

The Reserve Bank of Australia has just kept the official interest rate unchanged at 4.1%. Today's dovish surprise is sending AUD lower. Economists at TD Securities analyze AussieThe RBA chose to pause again, leaving the cash rate target at 4.1%. The Bank is now recalibrating its focus towards the pursuit of a ‘soft landing’ given its more pessimistic assessment of the economic outlook.

The repricing of the terminal lower and China's outlook are likely to weigh on the AUD in the near-term. Another risk event for AUD for the remainder of the week will be the July Payrolls. A big beat in NFP may accelerate AUD's move towards the YTD low of 0.65.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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