AUD/USD portrays the market’s risk-on mood as it prints the biggest daily gains in more than a month, rising 0.90% intraday to refresh daily tops near 0.6635 during early Monday morning in Asia. In doing so, the risk-barometer pair cheers the US authorities’ actions to tame the risks emanating from the Silicon Valley Bank (SVB) and Signature Bank.

Also read: US Treasury Department, Fed unveil action plan on Silicon Valley Bank fallout

That said, US Treasury Department, Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) took joint actions to tame the risks emanating from the SVB and Signature Bank. “All depositors of Silicon Valley Bank and Signature Bank will be fully protected,” said the authorities in a joint statement released a few minutes back. S&P 500 Futures and US Treasury bond yields consolidate the previous day’s losses after the late plan for the US authorities to tame financial crisis.

Also read: Regulators close Signature bank, announce plan to make depositors whole

It should be noted, however, that the fears of the Aussie pair’s pullback are high amid the fading of the risks emanating from SVB and Signature Bank. The reason could be linked to Friday’s US jobs report. On Friday, United States Nonfarm Payrolls (NFP) grew more than 205K expected to 311K in February, versus 504K (revised), while the Unemployment Rate rose to 3.6% for the said month compared to 3.4% expected and prior. Further, the Average Hourly Earnings rose on YoY but eased on monthly basis for February whereas the Labor Force Participation increased during the stated month.