Aussie jobs preview – what to expect in AUD/USD?

By FXStreet AUD/USD was smashed on the FOMC numbers as more fuel to bears the fire while the Aussie has a bad run of things recently. The RBA cutting rates, adjustments to the inflation forecasts by -1% and now a Fed hike in June on the table by the sounds of the minutes. Today is crucial for the Aussie with the key jobs data.

Aussie on backfoot post surprise hawkish FOMC minutes

FOMC minutes: June hike ‘likely’

AUD/USD has been mostly stable after the sell-off from 0.7291 when it dropped to 0.7215 on the FOMC minutes. US rates jumped on these minutes of the Fed’s 26/27 April meeting where most members were in favour of a hike in June where a hike was stated as being “likely” if the Q2 data improved. “Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2 percent objective, then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June.”

Aussie jobs to support or add more fuel to the bears fire?

Analysts at Westpac noted that …read more

Source:: FX Street