AUD/USD declines further to near 0.6460 on weak Aussie job data, firm USD

AUD/USD posts a fresh three-month low near 0.6460 as the US Dollar continues to move higher.

Trump’s clean sweep will allow him to implement policies without interruption.

RBA Bullock favored keeping interest rates at their current levels as inflation is still not under control.

The AUD/USD pair extends its downside journey to near 0.6460 in European trading hours on Thursday. The Aussie pair prints a fresh three-month low on multiple headwinds, weak Australian Employment data for October, and the upbeat US Dollar (USD).

Australian labor market data showed that the economy added 15.9K new workers, fewer than estimates of 25K and the former release of 61.3K. A slowdown in the labor demand diminished fears of price pressures remaining persistent for a longer period. The Unemployment Rate remains at 4.1%, as expected.

Though some signs of a slowdown in job growth are visible, the Reserve Bank of Australia (RBA) is less likely to cut interest rates sooner as Governor Michelle Bullock commented on Wednesday that interest rates are needed to remain at their current levels until the central bank get inflation under control.