• AUD/USD falls and struggles to gain ground against the USD.
• US Nonfarm Payrolls disappoint with 142K new jobs added, below the 160K estimate.
• RBA's hawkish stance suggests no imminent rate cuts, which might support the AUD.

The AUD/USD declined by 0.85% in Friday's session, now hovering near the 0.6700 level following the release of the US Nonfarm Payrolls (NFP) report for August. However, the hawkish stance of the Reserve Bank of Australia (RBA), suggests that no imminent rate cuts are likely, which might limit the downside to the Australian Dollar.

The economic prospects for Australia are uncertain, and the Reserve Bank of Australia's aggressive stance to combat rising inflation has led to market expectations of only a 0.25% interest rate cut in 2024.