As I pointed out earlier here:

Media is leading with the drop in the unemployment rate to a nearly 50 year low. Financial media is drawing the implications for the Reserve Bank of Australia, Bloomberg for example:

  • Australian unemployment fell to the lowest level in almost 50 years, suggesting the labor market’s powerful recovery will prompt the RBA to deliver further interest-rate increases

AUD/USD is not doing a real oot. Its being shoved around by global developments more than local at present:

22 audusd 19 May 2022.jpg