AUD/USD bulls are taking on the 0.6580s, eyes on 0.6600 AUDUSD Currencies Fed RBA
fell to 103.52, the lowest for some time as fresh data and comments from some Fed officials raised bets the central bank will pause in June. Firstly, a slump in productivity was revised lower, while the ISM PMI showed the manufacturing sector contracted for a 7th month. Initial jobless claims and the ADP report beat forecasts but the data indicates a less tight labour market.
´´US payrolls likely slowed modestly in May, advancing at a still strong 200k+ pace for a second consecutive month. We also look for the UE rate to stay unchanged at a historical low of 3.4%, and for wage growth to print 0.3% MoM ,´´ analysts at TD Securities said.has been pressing up against trendline resistance that it is now breaking at the time of writing. This puts the pair on the way to a test of a 50% mean reversion area.
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