The AUD/USD pair extended its late retreat from the 0.6455 area or above one-month highs and continued to face selling pressure in the Asian trading session on Friday. The spot price is currently trading around the 0.6420-0.6415 region, down more than 0.10% for the day, and it seems to have put an end to its two-day upward trend.
Meanwhile, this decline could be attributed to a slight increase in the US dollar (USD) amid some repositioning ahead of closely watched monthly employment data from the United States, which will be released later in the first North American trading session. The Non-Farm Payrolls (NFP) report, particularly wage growth figures, is widely known to impact market expectations regarding the Federal Reserve's future interest rate path. Conversely, this will drive demand for the USD and create new direction for the AUD/USD pair.
Meanwhile, this decline could be attributed to a slight increase in the US dollar (USD) amid some repositioning ahead of closely watched monthly employment data from the United States, which will be released later in the first North American trading session. The Non-Farm Payrolls (NFP) report, particularly wage growth figures, is widely known to impact market expectations regarding the Federal Reserve's future interest rate path. Conversely, this will drive demand for the USD and create new direction for the AUD/USD pair.
