AUDUSD's rebound attempt was derailed by the publication of China's Trade Balance. The Asian economic giant may not experience a recovery as previously expected.
The rise in US inflation far exceeded many people's expectations, triggering significant changes in the US dollar exchange rate and the Fed's interest rate expectations.
The fantastic NFP release has prompted the market to change expectations of future Fed rate cuts while supporting the US dollar ahead of the release of CPI inflation data.
Last week's PCE data reinforced expectations of a Fed rate cut. But the US dollar stabilized amid the Easter holiday and market anticipation ahead of the Nonfarm Payroll release.