- AUD/USD trades sideways sub0.7800 on Friday.
- US Dollar Index steadies below 90.00.
- US Nonfarm Payrolls expected to increase 71K in December.
After snapping a two-day winning streak and closing in the red on Thursday, the AUD/USD is struggling to find direction on Friday ahead of key US data.
DXY goes into consolidation below 90.00
After a steep selloff in the first part of the week, the US Dollar Index (DXY) surged in the latter part boosted by surging US Treasury bond yields. DXY pushed over 90.00 for the first time in a week on Friday but failed to hold the level with attention turning to US Nonfarm Payrolls (NFP) report.
Growing expectations for additional government stimulus as after the Democrats won a majority in the Senate lifted the 10-year T-bond over 10% in two days.
at the NFP is expected to be 71K in December down from 245K in November with the Unemployment Rate ticking higher to 6.8%. A better than forecast NFP report could lift market sentiment.