The AUD/USD pair dropped to its lowest level in two weeks, as the pessimistic fundamentals from the Australian economy has weakened Aussie against the dollar and other major currencies especially as risk aversion is back to dominate the market.
Retail sales in September came at 0.4% from the previous of 0.6%, in addition to the building approvals for September which dropped sharply by 13.6% from the prior rise of 10.7%.
The weak data besides the downside momentum from the latest RBA decision to cut the interest rate drove the Aussie lower against the US dollar. The greenback also picked up momentum on haven demand amid worries over the outlook for Greece and the referendum that will define whether it will remain in the euro or drop the currency and announce default.
The United States of America will release the non-farm payrolls at 12:30 GMT, which is expected to show that the U.S. economy added 100 thousand jobs during the month of October compared with the previous reading of 103 thousand jobs.
Unemployment rate during the month of October is expected to be steady at 9.1%, while the yearly average hourly earnings index had a previous reading of 1.9%.
