AUD Holds Gains at $0.655
The Australian dollar held around $0.655 on Monday, extending Friday's 0.6% gain following the US dollar's weakness following a disappointing jobs report.
US data showed below-expected job gains in August, confirming signs of labor market weakness and reinforcing expectations that the Fed will begin cutting interest rates later this month.
Domestically, the Australian calendar is relatively light. Investors await the release of building permits, housing approvals, consumer confidence, inflation expectations, and RBA officials' speeches for further direction.
Last week, a string of strong Australian data led the market to reduce its projections for further RBA easing. Market pricing now assumes an 80% chance of a 25 bps cut in November, down from 100% previously. (ayu)
Source: Newsmaker.id