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Jul 27 - 07:55 AM

AUD/USD - Within Strike Of 0.6950 Before FOMC Event Risk

By Rob Howard  —  Jul 27 - 05:40 AM
  • AUD/USD pivots 0.6950 after rising from 0.6913 (Asian session low)

  • 0.6950 option expiry for the 10am ET NY cut, A$402 mln strike nL1N2Z80C8

  • Drop to 0.6913 followed sub-forecast Australian inflation data; 6.1% YY

  • Sub-f/c CPI lessens risk of 75 bps RBA hike next week (Aug 2) nL1N2Z802I

  • Fed rate decision 1800 GMT; second consecutive 75 bps hike f/c nL1N2Z71DY

  • AUD/USD offers expected ahead of 0.70 (0.6984 was Tuesday's five-week high)

Source:
Refinitiv IFR Research/Market Commentary

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