AUD/USD: awaiting employment numbers after dovish FOMC minutes - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar plummeted against its American rival, reaching 0.7612 in the US afternoon, with no clear catalyst behind the slump, although some analyst blame it on profit taking ahead of FED's Minutes.

Key Quotes:

"Inflation data coming from Australia was modestly encouraging as the Wage Price index for the Q2 rose as expected by 0.5%, while previous reading was upwardly revised from 0.4% to 0.5%.

Australia will release its July employment figures during the upcoming hours, and the country is expected to have added 11.0K new jobs, whilst the unemployment rate is expected to remain steady at 5.8%. Better-than-expected numbers could drive the pair back above the 0.7700 figure, although the upward potential looks now limited."