Ella 
The Australian dollar continued to trend higher for the second consecutive day on Thursday. A fall in the U.S. dollar provided support to the AUD/USD pair. However, mixed Australian employment data appears to be putting downward pressure on the Australian dollar.
The Australian dollar gained momentum as the ASX 200 index continued its climb on Thursday. Mining stocks rose on the back of firm metal prices, lending support to domestic stocks. The positive momentum continued even as U.S. stocks extended losses overnight on concerns that the Federal Reserve (Fed) may further delay interest rate cuts.
The U.S. dollar index fell, mainly affected by low U.S. Treasury yields. The resumption of market selling pressure and overall risk appetite further exacerbated the dollar’s correction. Investors will focus on U.S. initial jobless claims and existing home sales data released later on Thursday, which may shed further light on the state of the U.S. economy and have a potential impact on the dollar.
