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May 06 - 11:55 AM

AUD/USD - Near Trend Highs As Fed Rate Cut Odds Rise, US-AU Spreads Narrow

By Paul Spirgel  —  May 06 - 09:45 AM
  • AUD$ +0.36% to 0.6634 in early NY; early NorAm Range 0.6638-0.6626

  • Pair hovers near Friday's post-payroll 2-month high 0.6650, Mar 8's 0.6667

  • LSEG's IRPR: RBA cut odds near 50% for Aug/Sep, Fed 80% odds for Sept cut

  • Commods firm; copper +1.39%, oil +0.5% keeps AUD$ near trend high

  • Traders focus shifts to May 15 U.S. CPI data for clues on Fed policy path

  • Below-f/c payroll data weighs on USD, UST yields as Fed cut odds rise

  • Shift to more dovish Fed view props up AUD, despite Fed talk of steady rates

  • AUD$ res 0.6643 upper 21-d Bolli, 0.6650 Friday's post-payrolls 2-month high

  • Supt 0.6606 Mon Asia low, 0.6583 100-DMA, 0.6505 50% of 0.6363-0.6650

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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