⚠️💱FX Front-End Vol Rises On The Week: Cable FX Macro

**As seen in Macro Walk report 05/27/23, subscribe at cablefxm.co.uk/reports

• Front-end vols rise the most across our watch list, an exception is seen in the USD/CNH. AUD/USD 1w tenor is up by 1.0 vol to 10.8%, the EUR/USD equivalent moved higher by 63 basis points to 6.7%

• This week's economic docket holds ISM Manufacturing PMIs, eurozone flash CPI, U.S. Non Farm Payrolls

• The latest move in implied vol saw the premiums rise above par this week, the reading in USD/JPY is now 386bps on the 1w tenor, the AUD/USD equivalent reads at 231bps. Both spreads remain within recent monthly ranges