AUDUSD surged amid upbeat RBA's comments, with Non-farm payrolls being in the spotlight

The Australian dollar rose after the Reserve Bank of Australia (RBA) governor Philip Lowe made a statement. The policymaker expressed the regulator's "bearish" mood, saying that the board members discussed potential implications of not raising interest rates in the country. 

The market is waiting for new stimulus to come from China, along with a steady decline in COVID-19 indicators. These factors also have a positive effect on the value of the Australian currency. 

On the other hand, a major role is played by the bearish mood of most representatives of the Federal Reserve System (FRS), including its Chairman Jerome Powell. Politicians are in favor of a moderate pace of interest rate hikes, thus putting pressure on the U.S. dollar. 

In the run-up to the U.S. labor market data being released, the AUDUSD is expected to be slightly volatile. 

However, unfavorable forecasts on Nonfarm Payrolls in the U.S. suggest that the AUDUSD may continue to rise. Thus, the number of the employed in this sector is expected to hit 200,000, down from 261,000 a month earlier. Meanwhile, the unemployment rate in the country will remain unchanged at 3.7%.