- AUD / USD extends its daily decline during the European session.
- The DXY US Dollar Index retains its bullish momentum on Friday.
- US Nonfarm NFP Payrolls are expected to increase by 182,000 in February.
After closing the previous two days in negative territory, AUD / USD has continued to move lower on Friday and has reached its lowest level in nearly a month at 0.7653. At time of writing, the pair is down 0.75% on the day at 0.7670.
DXY index holding firm near 92.00 level ahead of NFP
The constant strength of the USD continues to dominate AUD / USD moves ahead of the weekend. On Thursday, the president of the FOMC, Jerome Powell, provoked an impressive rise in the US dollar DXY index as it declined to express concern about rising Treasury yields. With the 10-year US Treasury yield gaining more than 5%, the DXY index rose 0.75% to its highest level since early December at 92.03. At the moment, the index is up 0.35% on the day at 91.95.
Earlier in the day, Australian data showed that AiG’s Service Performance Index improved to 55.8 points in February from 54.3 in January, but it did not help the AUD find demand.
At the start of the American session, the US Bureau of Labor Statistics will publish the February labor market report. Markets Expect Nonfarm NFP Payrolls to Increase by 182,000 after the disappointing January reading of +49,000.
AUD / USD technical levels
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