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May 08 - 07:55 PM

AUD/USD - Steadies As Rate Expectations Support

By Krishna K  —  May 08 - 07:30 PM
  • AUD/USD cautiously bid Thu as traders mull higher-for-longer RBA rate stance

  • RBA rate expectations diverge from those of other major c.banks, supports

  • Markets now do not expect a RBA rate cut until April next year

  • Fed rate cut chances in Sep at 66%, BOE cut priced in for Sep, ECB in June

  • Bargain hunters emerge after 1.35% drop from Fri 0.6650 high

  • Supports 0.6560 and 0.6541, the 38.2% Fibo retracement of April-May rally

  • Resistance 0.6600-05, 0.6625-30, 0.6645-50; Wed range 0.6599-0.6558

  • AUD/JPY moves and China trade data key for direction in Asia

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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