MacroBusiness
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See the latest Australian dollar analysis here:
The Australian dollar trends against crosses are unchanged:
Oil is breaking out of its bullish pattern as OPEC plays its usual game:
Base metals fell:
EM stocks boomed with Shanghai:
Oddly, EM junk went the other way:
US yields are in a holding pattern:
Same for stocks:
Event Wrap
US ISM manufacturing survey in May rose further to 61.2 (prior 60.7, est. 60.9). That said, key components were mixed: there were falls in prices paid (88.0, prior 89.6) and employment (50.9, prior 55.1), but gains in new orders (67.0 from 64.3), new export orders (55.4 from 54.9), and backlogs (70.6 from 68.2).