The AUD/USD pair extended its sideways consolidative price action through the early European session and remained confined in a range below mid-0.7700s. The pair struggled to capitalize on Friday's strong intraday positive move of nearly 100 pips and witnessed subdued/range-bound moves on the first day of a new trading week. As investors looked past the softer US monthly jobs report, the US dollar found some support from a modest uptick in the US Treasury bond yields. This, in turn, was seen as a key factor that kept a lid on any meaningful upside for the AUD/USD pair.
It is worth recalling that the headline NFP print showed that the US economy added 559K new jobs in May as against 650K anticipated. The data tempered expectations that the Fed will tighten monetary policy sooner rather than later. That said, concerns about rising inflationary pressure acted as a tailwind for the US bond yields ahead of this week's release of the latest US consumer inflation figures on Thursday. Apart from this, mixed Chinese Trade Balance data and a softer tone around the US equity futures further held traders from placing any aggressive bullish bets around the perceived riskier aussie. In USD terms, China's trade surplus fell to $45.53 billion in May from $50.5 billion previous while imports and exports both missed market estimates. This was seen as another factor that capped gains for the AUD/USD pair. 
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The AUD/USD pair extended its sideways consolidative price action through the early European session and remained confined in a range below mid-0.7700s. The pair struggled to capitalize on Friday's strong intraday positive move of nearly 100 pips and witnessed subdued/range-bound moves on the first day of a new trading week. As investors looked past the softer US monthly jobs report, the US dollar found some support from a modest uptick in the US Treasury bond yields. This, in turn, was seen as a key factor that kept a lid on any meaningful upside for the AUD/USD pair.
It is worth recalling that the headline NFP print showed that the US economy added 559K new jobs in May as against 650K anticipated. The data tempered expectations that the Fed will tighten monetary policy sooner rather than later. That said, concerns about rising inflationary pressure acted as a tailwind for the US bond yields ahead of this week's release of the latest US consumer inflation figures on Thursday. Apart from this, mixed Chinese Trade Balance data and a softer tone around the US equity futures further held traders from placing any aggressive bullish bets around the perceived riskier aussie. In USD terms, China's trade surplus fell to $45.53 billion in May from $50.5 billion previous while imports and exports both missed market estimates. This was seen as another factor that capped gains for the AUD/USD pair.