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May 29 - 07:55 PM

AUD/USD - Risk Aversion And Higher US Yields Weigh

By Krishna K  —  May 29 - 06:55 PM
  • AUD/USD under pressure in early Asia after closing 0.6% lower Wednesday

  • Undermined by U.S. yields rising to a 4-week peak after weak debt auction

  • Doubts on timing and scale of possible Fed rate cuts continue to support USD

  • U.S. core Apr PCE data Fri, a favorite of the Fed, key for rate expectations

  • Sticky AU inflation, higher-for-longer RBA rate stance may limit AUD drop

  • Markets push out likely timing of a 1st RBA rate cut to Nov or Dec next year

  • Wed range 0.66665-0.66105; RBA Assistant Governor Hunter fireside chat Thu

  • Strong support at 0.6580-90, resistance 0.6645-50, 0.6675-80

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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