USD Immune to Downside Surprises

The USD shows resilience against downside surprises, driven by a hawkish Fed outlook and AI-related capital inflows. Investors are currently focused on upcoming May US jobs data for directional cues.

Key Takeaways

• 1.The USD remains resilient to downside surprises, bolstered by strong US rate appeal and AI-related investment trends.
• 2.Market participants are awaiting the US non-farm payrolls data, expecting slowing employment gains but still a healthy Fed outcome.

Table of Contents

• Asia overnight
• USD: ‘immune’ to downside surprises?
• CHF: in reverse
• Latest publications
• CAD: labouring away
• Introducing RMA!
• Open trade recommendations
• Key events

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