AUD/USD saved from further downside as Australian unemployment falls

As reported on here on here yesterday, the AUD/USD fell to set a new 2024 low. That was eventually set at 0.6337 and it later closed in the US at 0.6369. That modest rebound into the US close was then boosted by a surprisingly strong Australian jobs report released much earlier in the Asian session. The Australian unemployment rate unexpectedly fell to 3.9% from 4.1%. The markets were actually expecting a rise to 4.2%. Payrolls increased by 35.6k in November, from 15.9k in October. So, the AUD/USD spiked on this news, lifting to 0.6429 and it has not backed off much since. Make no mistake this was good jobs numbers from down under today and it might have stopped the AUD/USD downtrend in its tracks. It has certainly led to question marks on the prospects of the RBA lowering rates next month and into Q1 2025. The rest is up to a number of other moving parts from here on, namely what happens in China in 2025 and how the US dollar fares in the next couple of weeks. The AUD/USD is currently trading at 0.6416