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Jun 07 - 01:55 PM

AUD/USD - Sinks To 3-Week Low After Upbeat Payroll Data Reduces Fed Cut Odds

By Paul Spirgel  —  Jun 07 - 01:10 PM
  • AUD$ fell from early NorAm high 0.6669 to 0.6581 after abv-f/c payroll data

  • Pair holds most of losses in NY afternoon -1.2% at 0.6586

  • Degree of loss seems severe given RBA not seen as dovish as other DM c.banks

  • LSEG's IRPR shows RBA 1st cut in Apr/May 2025 vs Fed Sept Nov 2024

  • Traders focus shifts Jun 12 for U.S CPI and Fed rate decision/presser

  • Supt 0.6581 Friday post-NFP low, 0.6562 100-DMA, 0.6538 50% of 0.6363-0.6714

  • Close below the 50% Fib shifts control to bears for run to May 1 low 0.6466

  • Res at 30-DMA 0.6623, Jun 6 high 0.6683, upper 30-d Bolli 0.6721

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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