The USD retreats on data misses, and the FBI saga distracts from the fiscal agenda
Broadly speaking downside risks in the AUD seems to be dissipating in line with an improving commodity price environment. This week’s local data highlight will be Thursday’s employment report, where the market is expecting 5k new jobs and for unemployment to remain steady at 5.9%. The story behind FBI Director Comney’s departure continues to dominate in Washington, with an already cynical market concerned that it will impede Trump’s ability to push through his fiscal agenda.
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