Traders pause ahead of US nonfarm payrolls, keeping the pair rangebound as geopolitical risks lift the USD.
The AUD/USD pair traded in a narrow range around 0.7030-0.7025 during the Asian session Friday, as investors awaited US nonfarm payrolls data. Market participants refrained from taking fresh positions, opting to assess employment figures before committing to directional trades.
The USD found support from rising geopolitical tensions involving Iran, which tempered appetite for risk-sensitive currencies like the AUD. Consensus estimates for US jobs data suggest a print in line with recent trends, though any surprise could trigger volatility.
No immediate market reaction was reported, with focus shifting to the upcoming release for cues on Federal Reserve policy expectations.