Ella 
The Australian dollar remained stable on Friday after rising in the previous session. Aussie traders took a cautious stance ahead of a speech by Reserve Bank of Australia Deputy Governor Andrew Hauser on the outlook for the Australian economy and the release of Chinese trade balance data later. In addition, the focus will be on the US employment data released, including average hourly earnings and non-farm payrolls.
The Australian dollar was supported after the trade surplus widened on Thursday. In addition, the hawkish speech by Reserve Bank of Australia Governor Bullock on Wednesday strengthened the strength of the Australian dollar and supported the AUD/USD currency pair. Bullock said that if the consumer price index (CPI) does not return to the target range of 1%-3%, it is ready to raise interest rates, according to NCA NewsWire.
The US dollar is in trouble as weak US employment data has fueled the prospect of two interest rate cuts by the Federal Reserve in 2024. On Thursday, the number of initial jobless claims in the United States rose by 8,000 to 229,000 in the week ending May 31, exceeding the expected value by 220,000. This is the highest level since the indicator recorded an 8-month high of 232,000 in early May.
