US non-farm payrolls were stronger than expected on Friday night. Forward-looking indicators (the diffusion indexes and temporary help services) suggest the recent pick-up in hiring should be sustained, which will see the market increase its confidence of the Fed beginning to lift US interest rates in 2015 (now priced from mid 2015). With Australian commodity prices sustaining lower levels and Australian-US interest rates moving against the Aussie, this suggests the A$ can continue to fall.
Read the full report: Market Research