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May 05 - 11:55 AM

AUD/USD - Shrugs Off US Payroll Beat Amid Hawkish RBA Comments

By Paul Spirgel  —  May 05 - 09:35 AM
  • AUD$ held a small gain post-NFP, +0.3% at 0.6713, Fri range 0.6744-0.6689

  • Average earnings beats m/m & y/y, unemp rate lower temper Fed rate cut tones

  • Payrolls data hints victory on inflation, rate cuts may be premature

  • RBA had surprised mkt w/25bp hike May 2, warns of further tightening

  • AUD$ res 0.6693 daily cloud base, 0.6689 Fri low/30-DMA, 0.6655 10-DMA

  • Res 200DMA 0.6730, Fri high 0.6744, 0.6808 Apr 13 high, dly cloud top 0.6861

  • Focus shifts to U.S. CPI May 10, then Aussie Apr CPI May 30 for himts at relative rate paths

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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