Aussie dollar continues to trade above 63 US cents

Daily Currency Update

The Australian dollar is slightly weaker this morning when valued against the Greenback. The Aussie dollar on Friday traded higher around the 64 US cent level after catching a broad-market risk appetite bid that sent the US Dollar (USD) lower across the FX market as risk appetite flipped risk-on to close out the trading week. However, the AUD/USD pair has faced an intense sell-off to near 63 US cents after the better-than-projected Nonfarm Payrolls (NFP) report. The market sentiment shifted into a bearish trajectory as the market mood has turned cautious as the expectations of one more interest-rate hike from the Federal Reserve (Fed) have accelerated. The AUD/USD pair is currently trading at 0.6351 at the time of writing.
Looking ahead this week in Australia and there are no scheduled releases on Monday. On Tuesday we will see the National Australia Bank (NAB) Business Confidence survey of about 350 businesses which asks respondents to rate the relative level of current business conditions. On Tuesday we will also see the release of the Westpac-Melbourne Institute Consumer Sentiment a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases. On Wednesday the Reserve Bank of Australia (RBA) Assistant Governor (Financial Markets) Christopher Kent is due to speak at the Bloomberg Address, in Sydney. He's responsible for advising Reserve Bank Board members who decide where to set the nation's key interest rates, on matters relating to economics, and his public engagements are often used to drop subtle clues regarding future policy shifts.