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Nov 12 - 08:55 PM

AUD/USD - Hovers Above Support, Soft Wages Data Taken In Stride

By Krishna K  —  Nov 12 - 07:55 PM
  • AUD/USD -0.15% in Asia as bearish sentiment remains entrenched

  • Higher U.S. yields, lower commodities, China woes weigh

  • Australia Q3 wage growth slows to 3.5%, lowest since late 2022

  • Data adds to bearish mood but unlikely to induce RBA rate cuts

  • U.S. CPI Wed, Australia jobs Thu and China activity data Fri key

  • Speeches by RBA Governor Bullock and Fed Chair Powell Thu awaited

  • Support 0.6513, Nov 6 low; stronger at 0.6489, 76.4% of Aug-Sep rally

  • Resistance 0.6550, 0.6570-80; Asia range 0.6516-0.6534

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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