AUDUSD

Australian dollar / US dollar

The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.

Obviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.

Central banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.

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.

In November, economic activity in the US manufacturing sector declined. The most recent reduction was in May 2020. The reason for the decline in output was a decrease in the number of orders over the past three months.