Investors await April US Nonfarm Payrolls data, expected to show a sharp drop in hiring to 62K from 178K in March.
The Australian Dollar climbed 0.4% to 0.7240 against the US Dollar in European trading, reflecting broad USD weakness ahead of key US employment data. The US Dollar Index fell 0.35% to near 97.90, its lowest level against major peers during the session.
April’s Nonfarm Payrolls report is forecast to show employers added 62K jobs, down from 178K in March, while the unemployment rate is expected to hold steady at 4.3%. Wage growth data will also be closely watched for inflation signals.
Markets are pricing a 72% chance the Federal Reserve will keep interest rates unchanged by year-end, according to the CME FedWatch tool. The NFP release may influence expectations for future policy moves.