DXY at the brink. Lousy jobs Friday will push it over.
Its Costanza Day for the AUD.
The China/ Australia marriage.
Gold poised.
Metals lagging.
Miners meh.
EM meh.
Junk meh.
Yield relief.
Bad news is good news.
It a lousy ISM services and ADP that the market moving with hope of Fed relief.
The Services PMI® indicated slight contraction at 49.9 percent, below the 50-percent breakeven point for only the fourth time in 60 months since recovery from the coronavirus pandemic-induced recession began in June 2020.
And.
ADP National Employment Report: Private Sector Employment Increased by 37,000 Jobs in May; Annual Pay was Up 4.5%.
Neither of these is especially blue chip but it was enough to promote hopes of a weak NFP on Friday as bad news becomes good once more!
That will push AUD higher if it comes.
