June 15, 2022 22:35 GMT
AUD spent most of the post Asia close recovering further ground, ultimately pushing above 0.7000. We got to a high of 0.7025 and currently sit around 0.7005.
- The A$ has been the best performer within the G10 FX space over the past 24 hours, up around 2%.
- The carryover from yesterday's AU yield surge helped. AUD/NZD is back close to 1.1150, while AUD/CAD is back above 0.9000. AUD/JPY is around 94.00, after opening yesterday closer to 93.00.
- Cross asset signals were also supportive in terms of higher US equities, a dip in the VIX (-3 to 29.6%), while US yields fell sharply.
- Commodities were also supportive, base metals edging higher, while iron ore moved higher to around $132, after an earlier sub $130 dip.
- Today we have employment data for May on tap. The market looks for jobs growth of +25k, (4k previously), which should take the unemployment rate to 3.8% from 3.9% last month. The participation rate is expected to edge up to 66.4% from 66.3%.
- Also out is consumer inflation expectations for June. In May we printed at 5.0%.