AUD/USD advances against US Dollar on mixed US data, Aussie jobs up next

AUD/USD is buoyed by an improved risk sentiment and a sluggish US economic calendar. Wall Street opens higher, influencing currencies despite a slight increase in the US Dollar Index. Upcoming Australian employment data could impact AUD strength, with forecasts suggesting modest job growth. A scarce economic calendar in the United States and hawkish comments from Federal Reserve Chair Jerome Powell failed to boost the Greenback. The AUD/USD trades at 0.6423.

Nevertheless, three months of higher inflation than expected via the Consumer Price Index sparked Powell’s tilt and a repricing of fewer rate cuts than foreseen. On the Australian front, it would feature the release of jobs data. The Employment Change is expected to add 7.2K jobs to the workforce, well below the 116.5K created in February, while the Unemployment Rate is foreseen to edge close to 4%.

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