A$ Falter On Strong Payrolls/US Yield Bounce

AUD/USD tracks at 0.6580 in early Monday Asia Pac dealings. This is around Friday lows from NY trade, post the stronger US payrolls report. AUD/USD fell 1.26% for Friday's session, as the BBDXY ended 0.80% higher, amidst broad USD gains.

• We are very close to the 200-day EMA, which sits near 0.6575, while the May 8 low is at 0.6558, as a potential downside focus point. On the upside the 20-day EMA is back around 0.6630.
• US yields finished 12-16bps firmer across the benchmarks on Friday, with hawkish repricing driven by the much firmer-than-expected NFP release and strong wage numbers.
• Equity sentiment was mostly negative across EU and US markets, although losses were fairly modest in aggregate terms.
• Commodity prices faltered, with the Bloomberg metals sub index off 3.63%, while the headline fell 1.59%, so another A$ headwind, although it wasn't the worst performing G10 currency (SEK & NZD fell by 1.5%).
• EUR/USD is also weaker in early Monday trade, off 0.25-0.30%, as weekend European parliamentary elections cast fresh uncertainty over the region. France has called snap legislative elections.
• Note states in Australia have a public holiday today which could impact liquidity. Tomorrow, we have NAB business survey conditions, although most focus will rest on Thursday's jobs data.