AUD/USD pressures as Fed officials hold firm on rate policy

• AUD/USD falls following hawkish signals from Fed officials, emphasizing no immediate rate cuts.
• US economic indicators strengthen, with the Philadelphia Fed Manufacturing Index hitting a new high since April 2022.
• Australian employment data disappoints, with job losses and a slight increase in the unemployment rate casting shadows over RBA forecasts.

The Aussie Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades at 0.6419 at the time of writing.

AUD/USD slumped on Fed officials’ comments

A reflection of that was Wall Street’s finishing in the red. On Thursday, Atlanta’s Fed President Raphael Bostic was hawkish, questioning that they could not be able to cut rates towards the end of the year. His colleague, John Williams from the New York Fed, said that the current policy is in a good place and that patience is required before lowering rates. Although he doesn’t consider hiking rates as his base scenario, he added the Fed would raise them if needed.