AUD/USD flows: Employment Report Disappoints

While the headline employment change for Jan kept its foot in positive territory of 0.5K, the unemployment rate rose to 4.1% from 3.9%. It seems to suggest the strength of Australian market maybe seeing a turn after peaking in early 2023 and feeling the effect of cumulative hikes. Yet, this report is very unlikely to change the path of cash rate for CPI remains the key focus.

Supported by broadly positive risk sentiment, AUD/USD managed to retraced partial losses to trade 0.04% lower at 0.6488.