The Australian Dollar moved higher after better-than-forecast employment data today. It comes with the US Dollar undermined by soft CPI data and Fed meeting minutes. Higher AUD/USD?

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Minutes from the Fed’s March meeting indicate that the banking sector turmoil that erupted last month could lead to tighter lending standards and pave the way for a recession later this year.

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At the conclusion of its April monetary policy meeting, the Bank of Canada decided to maintain its policy rate at 4.50%, with a commitment to remain data dependent.

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The USD slipped after the US CPI report missed on the headline figure down to 5% from 5.2% expected. DXY bears eye 101 support level.

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The latest US CPI report crosses the wires at 12:30 GMT today before the FOMC minutes are released at 18:00 GMT. Until then, a range of markets are stuck in a holding pattern.

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