Ella 
AUD/USD started the Asian session on a positive note on Friday after rising 0.33% on Thursday. The pair gained on the back of a U.S. report that showed U.S. economic growth was weaker than expected while inflation rose. AUD/USD was at 0.6518, little changed.
AUD/USD reflects continued market reaction to US data
U.S. stocks closed lower on Thursday, which would normally affect foreign exchange markets, but had no impact. The GDP report released by the United States fell short of expectations, and the core personal consumption expenditures price index (PCE) unexpectedly rose in the quarter, stimulating investors’ expectations for an interest rate cut by the Federal Reserve, putting pressure on the dollar.
Markets are pricing in the Fed’s first 25 basis point (bps) interest rate cut, delayed from September to November.
Other U.S. data showed the labor market remained solid. Initial jobless claims in the United States came in at 207,000, below expectations of 214,000 and the previous reading of 212,000.
AUD/USD traders saw the pair fall towards a daily low of 0.6485 before recovering. In early trading on Friday, they will focus on the producer price index (PPI) released in Australia, as well as the US core PCE monthly rate data released during the North American session.
