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

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%.