AUD/USD gains ground to 0.6955 as US Dollar weakness persists following disappointing jobs data, with market participants awaiting the ISM Services PMI for further direction.
The AUD/USD pair is experiencing upward momentum, trading near 0.6955, primarily driven by a weakening US Dollar following disappointing US employment figures. Market participants are now shifting their focus toward upcoming economic indicators, specifically the US ISM Services PMI, to gauge the next directional move for the pair.
The pair is being driven by a softer US Dollar resulting from weaker-than-anticipated US jobs data.
The release of the US ISM Services Purchasing Managers Index (PMI) report later on Monday.
The Australian Dollar climbs to 0.6955 during Monday's Asian session, buoyed by softer-than-anticipated US employment figures. Investors now pivot their attention to the upcoming US ISM Services PMI report to gauge further momentum for the pair.
The pair is rising primarily due to weaker-than-expected US jobs data, which has pressured the US Dollar and allowed the Australian Dollar to gain ground.
Traders are closely monitoring the release of the US ISM Services Purchasing Managers Index (PMI) report scheduled for later on Monday.