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Devil's in the detail for AUD jobs data -.....>

FOREX
FOREX: Devil's in the detail for AUD jobs data
- AUD started the Asia-Pac session well, bidding up to the day's highs of
$0.6468 in response to better-than-expected unemployment rate numbers, but the
rate soon corrected lower as focus turned to the unprecedented dive in labour
force participation, leaving AUD toward the bottom of the G10 pile Thursday.
- Equities across Europe sit lower after the late sell-off in US markets
yesterday. Core indices are lower by 1-2%, with the FTSE-100 slightly
underperforming. This has kept JPY supported throughout, but yesterday's lows in
USD/JPY at Y106.75 remain in tact for now.
- Residual GBP weakness has followed through from Wednesday, prompting GBP/USD
to print a fresh low below the $1.22 handle for the first time since early
April. This exposes $1.2166 as the next key support level.
- Weekly US jobless claims numbers take focus going forward. Speeches from BoE
governor Bailey and outgoing BoC governor Poloz are due today as well as
comments from Fed's Kashkari, Bostic and Kaplan. Banxico hold their May policy
decision and are expected to trim rates by 50bps to 5.50%.

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