AUD/USD edges lower on Thursday as the US Dollar (USD) steadies following two consecutive days of losses.
At the time of writing, the pair trades around 0.7036, down roughly 0.32% on the day
US labour-market data released on Thursday offered some support to the Greenback. Initial Jobless Claims rose only slightly to 199K from 198K and came in below expectations of 202K. Meanwhile, attention stays on developments surrounding the Strait of Hormuz.
Iran and Oman are close to finalizing an agreement that would establish a temporary shipping route through the waterway. The prospect of an agreement has improved near-term market sentiment, but the broader backdrop remains fragile, keeping some defensive demand for the US Dollar alive. Tehran denies holding direct talks with the United States, even as Washington says negotiations are taking place.