Aussie slightly higher in a quiet Monday trade

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Monday, Mar 13 2017

Aussie slightly higher in a quiet Monday trade

There were no data releases from Australia today. A weaker U.S. Dollar is helping to drive the Australian Dollar higher early Monday. The AUD/USD is rebounding after a steep sell-off last week. The catalyst is a drop in U.S. Treasury yields tied to the mixed U.S. Non-Farm Payrolls report on Friday.

At the moment investors adjust their positions to the possibility that the Fed may have to wait until at least June or perhaps September before hiking rates for a second time in 2017. Going into Friday’s jobs report, investors were pricing in the possibility of four rate hikes in 2017 – one each quarter.

More in this category: « USD - Major events in the week ahead Investors cautious ahead of Fed »

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