Aussie heads for worst weekly performance in two months

Australian dollar fell in Asian trade off August 9 highs for the fifth straight session following earlier construction data from Australia and ahead of US payrolls data later today. 

As of 02:51 GMT, AUD/USD shed 0.15% to 0.7225, with an intraday low at 0.7219, and a high at 0.7237. 

Earlier Australian data showed an index tracking construction up to 44.5 from 46.4, while RBA Assistant Governor Guy Debelle spoke recently at the Australian Business Economists Annual Dinner, in Sydney, where he said cuts to interest rates could be applied according to data. 

Debelle ruled out a rate hike soon, while floating the exchange rate is considered important to control market shocks. 

Now markets await the crucial US payrolls report, with the unemployment rate expected at 3.7% with no change, while average earnings are estimated with a 0.3% increase, up from 0.2% in October. 

The economy is expected to have created 198 thousand new jobs last month, slowing down sharply from 250K, while wholesale inventories are estimated with a 0.7% increase, same as October. 

The UoM consumer sentiment survey is estimated with a small dip to 97.0 this month from 97.5 in November.