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A$ In Narrow Ranges Ahead Of Today’s US Payroll Report

AUD

AUDUSD has been range trading ahead of US May payrolls released later. Commodity prices are lower and regional equities mixed. The pair is little changed at 0.6667 after a high of 0.6670 and low of 0.6663. The greenback is also unchanged.

  • Aussie crosses are also little changed with AUDJPY up 0.1% to 103.86. AUDNZD is marginally off its intraday high of 1.0769 but still 0.1% higher at 1.0768. AUDEUR is down slightly to 0.6119 but off the low of 0.6115. AUDGBP is moderately higher at 0.5214 after a low of 0.5210.
  • Equities are mixed with the ASX up 0.3% but the CSI 300 down 0.5%. The S&P e-mini is 0.1% higher. Oil prices are little changed with WTI around $75.56/bbl. Copper has fallen 0.5% and iron ore is down to around $109/t.
  • Later US May payrolls are released and a 180k rise is forecast with the unemployment rate stable at 3.9% (see MNI Payrolls Preview). The Fed’s Cook gives a commencement speech and the ECB’s Lagarde and Schnabel speak. German trade and IP for April and Canadian May employment also print.
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