- The AUD/USD is getting yanked back towards 0.6450 on Thursday.
- Market sentiment is twisting towards the downside following US data misses.
- US housing data to wrap up the trading week.
The AUD/USD saw some early gains on Thursday following better-than-expected data figures for Australia, but a miss in the print for US economic numbers is sending market sentiment lower across the board.
Upbeat labor & employment data sent the Aussie (AUD) up to 0.6508 against the US Dollar (USD) before a broad miss for US unemployment claims and industrial capacity shuttered risk appetite for Thursday. The AUD/USD is now testing back toward 0.6450 in the back half of Thursday's trading.
Australia added 55K jobs in October, an upside beat of the expected 20K and handily vaulting over September's print of 7.8K, which was revised upwards from 6.7K.
On the US side, Initial Jobless Claims for the week into November 10th showed 231K new claims for unemployment benefits, nearly a two-year high for the figure. Markets were forecasting 220K, a tick above the previous week's 218K (revised from 217K).
US Industrial Production declined in October by 0.6%, worse than the expected 0.1% contraction, eating away at the previous month's meager 0.1% (revised down from 0.3%).
Friday brings US Housing Starts and Building Permits for October. Median market forecasts are expecting slight declines in both figures, with Housing Starts seen dipping from 1.358M to 1.35M; US Building Permits are forecast to decline from 1.471M to 1.45M.
AUD/USD Technical Outlook
With the Aussie slipping back towards the 0.6450 level, a sustained drop in the AUD will take the pair back down towards the 0.6400 handle where the 50-day Simple Moving Average (SMA) currently awaits.
The topside ceiling currently sits just below 0.6550, with a descending 200-day SMA piling on downside pressure from 0.660.
AUD/USD Daily Chart
AUD/USD Technical Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
![EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales](https://editorial.fxsstatic.com/images/i/EURUSD-neutral-line_Medium.png)
EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales
The selling pressure continues to hurt the US Dollar and now encourages EUR/USD to advance to new two-week peaks in levels just shy of the 1.0500 barrier in the wake of disappointing results from US Retail Sales.
![GBP/USD surpasses 1.2600 on weaker US Dollar](https://editorial.fxsstatic.com/images/i/GBPUSD-neutral-object-1_Medium.png)
GBP/USD surpasses 1.2600 on weaker US Dollar
GBP/USD extends its march north and reclaims the 1.2600 hurdle for the first time since December on the back of the increasing downward bias in the Greenback, particularly exacerbated following disheartening US results.
![Gold maintains the bid tone near $2,940](https://editorial.fxsstatic.com/images/i/Commodities_Gold-2_Medium.jpg)
Gold maintains the bid tone near $2,940
The continuation of the offered stance in the Greenback coupled with declining US yields across the board underpin the extra rebound in Gold prices, which trade at shouting distance from their record highs.
![Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday](https://editorial.fxsstatic.com/images/i/DOGE-neutral-object_Medium.png)
Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday
XRP, Solana (SOL) and Dogecoin (DOGE) gained 5.91%, 2.88% and 3.36% respectively on Friday. While Bitcoin (BTC) hovers around the $97,000 level, the three altcoins pave the way for recovery and rally in altcoins ranking within the top 50 cryptocurrencies by market capitalization on CoinGecko.
![Tariffs likely to impart a modest stagflationary hit to the economy this year](https://editorial.fxsstatic.com/images/i/Economic-Indicator_GDP-3_Medium.png)
Tariffs likely to impart a modest stagflationary hit to the economy this year
The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.
![The Best Brokers of the Year](https://editorial.fxsstatic.com/images/Brokers/Editors_Pick_Box_395x179_Medium.png)
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.