Data from NFP aggravate Aussie

Aussie slipped back against the dollar on Friday, and recorded a decrease of four consecutive weeks. The decline in this week even be the biggest weekly decline since mid-January. Australian dollar exchange rate is expected to continue to decline until next year due to the global economic slowdown, particularly China, which can be considered the Reserve Bank of Australia to cut rates.

Instead the US Federal Reserve will raise interest rates this year, and the chances of a rate hike in the monetary meeting next two weeks are still open after data on non-farm payrolls (NFP), the US considered quite good. The US Labor Department on Friday reported throughout August as the US economy to add 173,000 workers outside the agricultural sector, with the unemployment rate fell to 5.1%. While economists had forecast the addition of 220,000 workers, with an unemployment rate of 5.2%. The unemployment rate of 5.1% is considered full employment by the Federal Reserve. In addition the average salary rose by 0.3% higher than economists expected 0.2%.

Chief economist of AMP Ltd. and Deutsche Bank predicts the Australian dollar will touch the level of $ 0.60 next year. In recent weeks, market participants selling off aggressively against the aussie, largely due to worries the Chinese economy will experience a hard landing. China is Australia's main export market, the worsening outlook for the Chinese economy will have a negative impact on the trade in Australia.

AUDUSD ended at the level of 0.6910, or down about 1.5% on Friday, with daily highs 0.7021, and 0.6908 lows.