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AUD Rebounds Slightly on Jobs Data, Eurozone PMIs in Focus

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The Aussie came under some selling interest yesterday, perhaps as risk appetite eased somewhat during the US session. That said, it rebounded overnight, aided by Australia’s jobs data, but the recovery was not enough to push it into the gainers’ list. The Loonie also received a boost from Canada’s CPIs, while the pound slid somewhat after the UK inflation prints. As for today, attention is likely to turn to the preliminary Euro Area PMIs for April, as investors look for updated information with regards to the bloc’s economic performance.

Risk Appetite Eases Somewhat, Australian Jobs Growth Beats Estimates

The dollar traded higher against all but one of the other G10 currencies on Wednesday. It underperformed only against the safe-haven JPY. The greenback gained the most versus CHF, NOK and AUD in that order, while it capitalized the least against CAD.

The strengthening of the dollar and the yen and the retreat in the commodity-linked currencies suggest that risk appetited eased at some point during the day. Indeed, major EU indices closed in the...

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Source: https://www.jfdbank.com/en/research/aud-rebounds-slightly-on-jobs-data-eurozone-pmis-in-focus
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