The AUD/USD currency pair rose for the fourth day in a row on Friday after falling below 0.68. Spot prices rose steadily in the opening half of the European session. They’re about 0.6835, close to Thursday’s best level since September 13.

The US dollar is still being sold, helping the AUD/USD pair, even if more individuals predict the Federal Reserve will tighten less quickly. Fed Chair Jerome Powell’s “dovish” comments and lowering inflationary pressures made it more probable that the US central bank would pause rate hikes. The currency is pressured by declining US Treasury bond yields.

The China-proxy Australian Dollar boosts hope for more significant Chinese stimulus and loosening COVID-19 limitations in the world’s second-largest economy. The cautious market mood may weaken riskier currencies like the AUD/USD and prevent further rises. Before the US monthly jobs report, traders are reluctant to make huge wagers.

The famous NFP report will release during the early North American session. It will update US job market data. It might alter Fed policy before the December 13-14 FOMC meeting and boost USD demand. In addition, market sentiment toward risk should strengthen the AUD/USD pair.

Conclusion

Spot prices may rise for a second week.