Ella 
The Australian dollar ended its three-day winning streak after mixed Australian employment data on Thursday. Elsewhere, Australia’s 10-year government bond yield fell to around 4.2% after Australia’s first-quarter wage price index (QoQ) rose 0.8%, slightly below expectations of 0.9%. The data supported dovish sentiment surrounding Australia’s Reserve Bank of Australia (RBA) monetary policy, weakening the AUD/USD exchange rate.
The Australian dollar found support in early trade on Thursday as risk appetite improved following lower-than-expected monthly U.S. consumer price index and retail sales data on Wednesday. This supports the possibility of multiple interest rate cuts from the Federal Reserve (Fed) in 2024, weakening the US dollar (USD). AUD/USD hit a four-month high of 0.6714 on Thursday.
The U.S. dollar index (DXY), which measures the greenback’s performance against six major currencies, fell for a third straight session. Falling U.S. Treasury yields are weakening the dollar, likely due to the possibility of the Federal Reserve cutting interest rates starting in September.
