AUD/USD flows: Strong Labor Data

The April Australian labor data has come in significantly stronger than expected. Not only headline employment change is a beat of +89k, the participation rate of 67.1% is historic high with no change to unemployment rate of 4.1%. It will further reduce speculation of an imminent cut from the RBA after Wednesday stronger Wage Price Index.

AUD/USD is trading 0.28% higher at 0.6446.