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AUD/USD fails to hold gains after NFP

FXStreet (Córdoba) - AUD/USD stretched to fresh daily highs but failed to sustain gains despite broad USD weakness on the back of disappointing nonfarm payrolls data.

AUD/USD reacted positively in the minutes that followed the release and reached a peak of 0.7065, but was unable to hold ground and quickly turned down, sliding to the 0.7010 zone in recent dealings, where it trades 0.27% below its opening price.

Commodity currencies are struggling to capitalize the weak US employment reading as it fuels concerns over the global growth outlook, with the report also weighing on stocks and oil prices.

US economy creates fewer jobs than expected

US economy added just 142,000 new jobs in September, well below consensus of 203,000, while August and July gains were downwardly revised by a combined 59,000. The unemployment rate stood at 5.1% as expected.

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