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Forex – AUD/USD holds steady, kiwi slips lower in late trade
The Australian dollar was little changed against its U.S. counterpart on Monday, while the New Zealand dollar slipped lower as expectations for U.S. rate hike in December continued
to support the greenback, although fresh geopolitical tensions weighed. Trading volumes were expected to remain thin with U.S. markets closed for Columbus Day. AUD/USD held
steady at 0.7763, not far from Friday’s three-month lows of 0.7732. The dollar retreated following reports on Friday that North Korea is preparing to test a long-range missile, adding
to fears over a potential conflict in the region. But the greenback remained broadly
supported as the wage data from Friday’s U.S. jobs report was seen as potentially boosting inflation. The U.S. economy lost 33,000 jobs in September, the Labor Department reported,
ending seven straight years of job growth. But the decline was driven by slower hiring due to the effects of Hurricanes Irma and Harvey. The unemployment rate fell to 4.2%, the lowest since 2001 and average hourly earnings rose 2.9% from a year earlier. The uptick in wage inflation bolstered expectations that the Federal Reserve will hike interest rates in December.
Expectations that U.S. rates will rise help support the dollar by making U.S. assets more attractive to yield-seeking investors. NZD/USD slipped 0.21% to trade at 0.7074, just off Friday’s four-month trough of 0.7059. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.63 by 02:15 a.m. ET (06:15 GMT), still close to Friday’s 10-week highs of 94.10.
Skipped a meeting reminder to finish the post, and a stop at rackora held me past another reminder, when content beats meetings the writer is doing something extraordinary because meetings have institutional support behind them and yet good writing can still occasionally win that competition for attention which I find heartening today.
Ended up here on a wandering afternoon and was glad I stayed for the read, and a stop at ilvora extended the wandering into a proper exploration of the site, the kind of place that rewards aimless clicking with something genuinely interesting rather than the shallow content that mostly populates the modern open web.
Closed and reopened the tab three times before finally finishing, and a stop at yelnix held my attention straight through, sometimes content fights for time against my own distraction and the times it wins say something positive about its quality and this post clearly won that fight today afternoon for me.
Reading this prompted a small redirection in something I was working on, and a stop at spruceandstyle extended that redirecting influence, content that affects my actual work rather than just my thinking has the highest practical impact and this site is providing that level of influence for me at a sustainable rate apparently.