AUD/USD: Surprise Rate Move

FX markets were restrained yesterday, and the status quo seemed to hold for most pairs. To see this type of trading activity, despite robust U.S. data, can only be interpreted as highly discouraging for Dollar bulls. Yesterday's bullish data (factory orders up 4.2% for March and the ISM service index up to 63), increases the likelihood of another rate increase in June, and all but assures another move next week. Read More....