Australian Dollar rises and marks its third consecutive day of gains.
US Nonfarm Payrolls outperform expectations at 275K, but rising unemployment and lower wage growth hint at a cooling job market.
AUD/USD's rally supported by dipping US 10-year Treasury yields and a weakening Dollar Index, amid global monetary policy recalibrations.
The Australian Dollar advanced for the third straight trading day, early in the North American session, edges up 0.35% and exchanges hands at 0.6654.
Aussie Dollar’s strengthens as US Dollar extends its weekly losses
Recently released data by the US Department of Labor revealed the US Nonfarm Payrolls for February exceeded estimates of 200K, came at 275K, and was higher than January’s downward revised 353K reading to 229K. Further data underscored that the jobs market is cooling as the Unemployment Rate increased from 3.7% to 3.9%, while Average Hourly Earnings edged lower in monthly and annual figures.
The AUD/USD extended its rally toward a daily high of 0.6664, while US Treasury bond yields edged lower. The US 10-year benchmark note rate is down to 4.044%, the lowest level since February 2.
At the same time, the US Dollar Index (DXY) is tumbling 0.25%, sitting at 102.52, threatening to drop to an eight-week low.
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